OCC 2005-30
OCC Bulletin

Subject:        Examiner Ethics        
Description:  Proposed Rule - One-Year Post-Employment 
                    Restrictions for Senior Examiners

Date:           August 30, 2005

TO:    Chief Executive Officers of All National Banks, Federal
       Branches and Agencies, Department and Division Heads, and
       All Examining Personnel

The attached proposed rule, issued jointly with the other federal
banking agencies, concerns new post-employment restrictions for
senior examiners of national banks.  The proposal was published
in the Federal Register on August 5, 2005.  Comments on the
proposed rule are due by October 4.

Section 6303(b) of the Intelligence Reform and Terrorism
Prevention Act of 2004 (act) imposes a one-year post-employment
restriction on senior examiners of national banks.  Under the
proposal, an OCC employee who serves as the senior examiner of a
national bank for two or more months during the last 12 months of
the person's employment with the OCC may not, within one year
after leaving the OCC, knowingly accept compensation as an
employee, officer, director, or consultant from the national bank
or any company (including a bank holding company) that controls
the bank.  This one-year provision would apply to any senior
examiner who leaves the OCC after December 17, 2005.  If a senior
examiner violates the post-employment restrictions, the act
requires the OCC to seek against the examiner a removal or
prohibition order for up to five years, a civil money penalty of
up to $250,000, or both.

The attached proposed rule would amend 12 CFR 4 to implement the
post-employment restrictions.  The proposal would also make
conforming changes to 12 CFR 19 to clarify those procedures that
apply to actions against senior examiners who violate the
restrictions.  The OCC's proposed rule is substantively similar
to those proposed by the other federal banking agencies.  As
noted in the preamble to the proposed rule, the OCC will develop
policies and procedures to identify and notify those examiners
who will be subject to the post-employment restrictions.  The OCC
anticipates that the restrictions would apply to examiners-in-
charge of banks in the OCC's Large Bank or Mid-Size Bank
programs.

For further information, contact Mitchell Plave, counsel,
Legislative and Regulatory Activities Division at (202) 874-5090,
or Barrett Aldemeyer, senior counsel, Administrative and Internal
Law Division at (202) 874-4460.


Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel

Attachment: 70 FR 45323
[http://www.occ.treas.gov/fr/fedregister/70fr45323.pdf]