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2000 - Rules and Regulations
Subpart K—Procedures Applicable to Investigations
Pursuant to Section 10(c) of the
FDIA
§ 308.144 Scope.
The procedures of this subpart shall be followed when an
investigation is instituted and conducted in connection with any open
or failed insured depository institution, any institutions making
application to become insured depository institutions, and affiliates
thereof, or with other types of investigations to determine compliance
with applicable law and regulations, pursuant to section 10(c) of the
FDIA (12 U.S.C. 1820(c)). The
Uniform Rules and subpart B of the Local Rules shall not apply to
investigations under this subpart.
[Codified to 12 C.F.R.
§ 308.144]
§ 308.145 Conduct of investigation.
An investigation conducted pursuant to section 10(c) of the FDIA
shall be initiated only upon issuance of an order by the Board of
Directors; or by the General Counsel, the Director of the Division of
Supervision, the Director of the Division of Depositor and Asset
Services, or their respective designees as set forth at § 303.272 of
this chapter. The order shall indicate the purpose of the investigation
and designate FDIC's representative(s) to direct the conduct of the
investigation. Upon application and for good cause shown, the persons
who issue the order of investigation may limit, quash, modify, or
withdraw it. Upon the conclusion of the investigation, an order of
termination of the investigation shall be issued by the persons issuing
the order of investigation.
[Codified to 12 C.F.R. § 308.145]
[Section 308.145 amended at 60 Fed. Reg. 31384, June 15,
1995, effective June 18, 1995; 64 Fed. Reg. 62100, November 16,
1999]
§ 308.146 Powers of person conducting investigation.
The person designated to conduct a section 10(c) investigation shall
have the power, among other things, to administer oaths and
affirmations, to take and preserve testimony under oath, to issue
subpoenas and subpoenas duces tecum and to apply for their enforcement
to the United States District Court for the judicial district or the
United States court in any territory in which the main office of the
bank, institution, or affiliate is located or in which the witness
resides or conducts business. The person conducting the investigation
may obtain the assistance of counsel or others from both within and
outside the FDIC. The persons who issue the order of investigation may
limit, quash, or modify any subpoena or subpoena duces tecum, upon
application and for good cause shown. The person conducting an
investigation may report to the Board of Directors any instance where
any attorney has been guilty of contemptuous conduct. The Board of
Directors, upon motion of the person conducting the investigation, or
on its own motion, may make a finding of contempt and may then
summarily suspend, without a hearing, any attorney representing a
witness from further participation in the investigation.
[Codified to 12 C.F.R. § 308.146]
{{12-30-99 p.2164}}
§ 308.147 Investigations confidential.
Investigations conducted pursuant to section 10(c) shall be
confidential. Information and documents obtained by the FDIC in the
course of such investigations shall not be disclosed, except as
provided in Part 309 of this chapter and as otherwise required by law.
[Codified to 12 C.F.R.
§ 308.147]
§ 308.148 Rights of witnesses.
In an investigation pursuant to section 10(c):
(a) Any person compelled or requested to furnish testimony,
documentary evidence, or other investigation, shall upon request be
shown and provided with a copy of the order initiating the proceeding;
(b) Any person compelled or requested to provide testimony as a
witness or to furnish documentary evidence may be represented by a
counsel who meets the requirements of
§ 308.6 of the Uniform
Rules. That counsel may be present and may:
(1) Advise the witness before, during, and after such testimony;
(2) Briefly question the witness at the conclusion of such
testimony for clarification purposes; and
(3) Make summary notes during such testimony solely for the use
and benefit of the witness;
(c) All persons testifying shall be sequestered. Such persons and
their counsel shall not be present during the testimony of any other
person, unless permitted in the discretion of the person conducting the
investigation;
(d) In cases of a perceived or actual conflict of interest arising
out of an attorney's or law firm's representation of multiple
witnesses, the person conducting the investigation may require the
attorney to comply with the provisions of § 308.8 of the Uniform
Rules; and
(e) Witness fees shall be paid in accordance with
§ 308.14 of the Uniform
Rules.
[Codified to 12 C.F.R. § 308.148]
[Section 308.148 amended at 64 Fed. Reg. 62100, November
16, 1999]
§ 308.149 Service of subpoena.
Service of a subpoena shall be accomplished in accordance with
§ 308.11 of the Uniform
Rules.
[Codified to 12 C.F.R.
§ 308.149]
§ 308.150 Transcripts.
(a) General rule. Transcripts of testimony, if any, in
an investigation pursuant to section 10(c) shall be recorded by an
official reporter, or by any other person or means designated by the
person conducting the investigation. A witness may, solely for the use
and benefit of the witness, obtain a copy of the transcript of his or
her testimony at the conclusion of the investigation or, at the
discretion of the person conducting the investigation, at an earlier
time, provided the transcript is available. The witness requesting a
copy of his or her testimony shall bear the cost thereof.
(b) Subscription by witness. The transcript of
testimony shall be subscribed by the witness, unless the person
conducting the investigation and the witness, by stipulation, have
waived the signing, or the witness is ill, cannot be found, or has
refused to sign. If the transcript of the testimony is not subscribed
to by the witness, the official reporter taking the testimony shall
certify that the transcript is a true and complete transcript of the
testimony.
[Codified to 12 C.F.R. § 308.150]
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