Regulatory AlertsSR 21-13: Revised Special Post-Employment Restriction for Senior Examiners and Work Paper Reviews for Departing Examiners
The Board of Governors of the Federal Reserve System issued SR 21-13 to revise and clarify the special post-employment restrictions under section 10(k) of the FDI Act for senior examiners and departing staff. The letter defines senior examiners based on specific leadership criteria and prohibits them from accepting compensation from supervised institutions for one year after leaving Federal Reserve employment. It also mandates annual monitoring of senior examiner assignments and requires independent work paper reviews for any examiner who joins a previously supervised institution within twelve months of departure.
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