OCC 2005-41
OCC Bulletin  

    Subject:  Examiner Ethics
Description:  Final Rule - One-Year Post-Employment Restrictions for
              Senior Examiners
Date:  December 6, 2005

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

The attached final rule implements new post-employment
restrictions for Comptroller of the Currency (OCC) senior examiners 
of national banks.  The final rule, issued jointly with the other 
federal banking agencies, was published in the Federal Register on 
November 17, 2005, and will become effective on December 17.

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
final rule, 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 applies to any senior examiner
who leaves the OCC on or after December 17, 2005.  If a senior
examiner violates the post-employment restrictions, the act
requires the OCC to seek against the former examiner a removal or
prohibition order for up to five years.  The OCC also may seek a
civil money penalty of up to $250,000.

The OCC anticipates that the restrictions will apply to examiners-
in-charge of national banks in the OCC's Large Bank or Mid-Size
Bank programs.  As noted in the preamble to the final rule, the
OCC will develop policies and procedures to identify and notify
those individual examiners who are subject to the post-employment
restrictions.

The attached final rule, which is substantively similar to the
final rules adopted by the other federal banking agencies, amends
12 CFR to implement the post-employment restrictions.  The final
rule also makes conforming changes to 12 CFR to clarify those
procedures that apply to actions against senior examiners who
violate the restrictions.

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 69633
[http://www.occ.treas.gov/fr/fedregister/70fr69633.pdf]