[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR612.2170]



[Page 92]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 612_STANDARDS OF CONDUCT AND REFERRAL OF KNOWN OR SUSPECTED CRIMINAL 

VIOLATIONS--Table of Contents

 

                     Subpart A_Standards of Conduct

 

Sec. 612.2170  Standards of Conduct Official.



    (a) Each institution's board shall designate a Standards of Conduct 

Official who shall:

    (1) Advise directors, director candidates, and employees concerning 

the provisions of this part;

    (2) Receive reports required by this part;

    (3) Make such determinations as are required by this part;

    (4) Maintain records of actions taken to resolve and/or make 

determinations upon each case reported relative to provisions of this 

part;

    (5) Make appropriate investigations, as directed by the 

institution's board; and

    (6) Report promptly, pursuant to part 617 of this chapter, to the 

institution's board and the Office of General Counsel, Farm Credit 

Administration, all cases where:

    (i) A preliminary investigation indicates that a Federal criminal 

statute may have been violated;

    (ii) An investigation results in the removal of a director or 

discharge of an employee; or

    (iii) A violation may have an adverse impact on continued public 

confidence in the System or any of its institutions.

    (b) The Standards of Conduct Official shall investigate or cause to 

be investigated all cases involving:

    (1) Possible violations of criminal statutes;

    (2) Possible violations of Sec. Sec. 612.2140 and 612.2150, and 

applicable policies and procedures approved under Sec. 612.2165;

    (3) Complaints received against the directors and employees of such 

institution; and

    (4) Possible violations of other provisions of this part or when the 

activities or suspected activities are of a sensitive nature and could 

affect continued public confidence in the Farm Credit System.

    (c) An association board may comply with this section by contracting 

with the Farm Credit Bank or agricultural credit bank in its district to 

provide a Standards of Conduct Official.



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