+-------+---+-------------------+-------+-------------------------+----+
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|       | 0 |                   |       |                         |    |
|       | 0 |                   |       |                         |    |
|       | 5 |                   |       |                         |    |
|       | - |                   |       |                         |    |
|       | 4 |                   |       |                         |    |
|       | 1 |                   |       |                         |    |
+-------+---+-------------------+-------+-------------------------+----+
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|       | * |                   |       |                         |    |
|       | * |                   |       |                         |    |
+-------+---+-------------------+-------+-------------------------+----+
| ## Co |   |                   |       |                         |    |
| mptro |   |                   |       |                         |    |
| ller  |   |                   |       |                         |    |
| of th |   |                   |       |                         |    |
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+-------+---+-------------------+-------+-------------------------+----+
| #     |   | #                 | ## De | ## Fin                  |    |
| # Sub |   | # Examiner Ethics | scrip | al Rule -- One-Year Pos |    |
| ject: |   |                   | tion: | t-Employment Restrictio |    |
|       |   |                   |       | ns for Senior Examiners |    |
+-------+---+-------------------+-------+-------------------------+----+

**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)

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