36(j), a trust representative office is not a “branch” for purposes of 12 U.S.C. Understandably, you have questions about how this might impact. Other activities may also be “ancillary activities” for the purposes of this definition. You may have heard recent media reports about the new fiduciary rule for retirement accounts. A Registered Investment Advisor is held to a Fiduciary Standard, meaning they are expected to act in the best interest of their client at all times. In our Asset Management and Trust group and through our. This list is illustrative and not comprehensive. Having a fiduciary duty means that you are legally obligated to act in the best interest of another. Examples of ancillary activities include advertising, marketing, and soliciting for fiduciary business contacting existing or potential customers, answering questions, and providing information about matters related to their accounts acting as a liaison between the trust office and the customer ( e.g., forwarding requests for distribution or changes in investment objectives, or forwarding forms and funds received from the customer) inspecting or maintaining custody of fiduciary assets or holding title to real property. (k ) Trust representative office means an office of a national bank, other than a main office, branch, or trust office, at which the bank performs activities ancillary to its fiduciary business, but does not engage in any of the activities specified in § 9.7(d).
0 kommentar(er)
