Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H

These requirements are pursuant to sections 208.34(c), (d), and (g) of Regulation H - Membership of State Banking Institutions in the Federal Reserve System, which require that state member banks effecting securities transactions for customers establish and maintain a system of records of these transactions, furnish confirmations of transactions to customers that disclose certain information, and establish written policies and procedures relating to securities trading. State member banks are required to maintain records created per these requirements for three years following a securities transaction. These requirements are necessary to protect the customer, to avoid or settle customer disputes, and to protect the institution against potential liability arising under the anti-fraud and insider trading provisions of the Securities Exchange Act of 1934 (Securities Exchange Act).

The latest form for Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H expires 2021-02-28 and can be found here.

Recordkeeping Section 208.34(g) State member banks (de novo) Establish policies and procedures

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