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Inactive Financial Institution Letters 

Educational Seminars

FIL-40-97
April 28, 1997

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Series of Educational Seminars on New Examination Procedures for Retail Sale of Nondeposit Investment Products

The FDIC's Division of Supervision, in collaboration with the American Bankers Association, America's Community Bankers and the Independent Bankers Association of America, will conduct a series of educational seminars to help all insured institutions understand the FDIC's new examination procedures applicable to the retail sale of nondeposit investment products.

The 10 seminars will be held around the country from May 28 through July 2. The seminars will:

    Provide an overview of the Interagency Statement on Retail Sales of Nondeposit Investment Products (NDIP). The Interagency Statement was adopted in 1994 by the FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Office of Thrift Supervision. It is the basis for each agency's supervision of NDIP sales by insured institutions directly or through affiliates or third-party vendors.

    Provide detailed guidance on new FDIC examination procedures to help insured institutions prepare for future NDIP examinations.

    Update attendees on the status of proposed regulations issued by the federal banking agencies applicable to the training and licensing of NDIP sales representatives.

    Review recent legal developments concerning NDIP programs and brief attendees on the status of regulatory initiatives from the National Association of Securities Dealers and the Securities and Exchange Commission.

In conjunction with the seminar program, the FDIC will make available new NDIP training materials to insured institutions for their internal training programs. This NDIP training package will include an instructional video illustrating the disclosure, training, sales location and other requirements applicable to NDIP programs; a new publication containing the answers to the most frequently asked questions regarding the operation of NDIP programs; a new NDIP consumer brochure; and a sample summary NDIP Fact Sheet that insured institutions can include with their customers' account statements. The Interagency Statement on Retail Sales of Nondepositinvestment Products and a copy of the FDIC's new examination procedures also are part of the training package.

The seminar schedule, along with administrative contacts for registration and further information, is attached.


Nicholas J. Ketcha Jr.
Director

Attachment: seminar schedule (below)

Distribution: All Insured Institutions

Note: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003).


SEMINAR SCHEDULE

May 28, 1997 Bloomington, MN
Contact: Education Department
Independent Bankers Association of America
Telephone: 1-800-422-7285

June 4, 1997 Dallas (Irving), TX
Contact: Education Department
Independent Bankers Association of America
Telephone: 1-800-422-7285

June 16, 1997 Chicago, IL
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 17, 1997 Des Moines, IA
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 20, 1997 Kansas City, MO
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 23, 1997 Orlando, FL
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 24, 1997 Charlotte, NC
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 26, 1997 Boston, MA
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

June 30, 1997 Los Angeles, CA
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

July 2, 1997 Seattle, WA
Contact: ABA Registration
American Bankers Association
Telephone: 202-663-5274

Last Updated 07/16/1999 communications@fdic.gov