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Electronic Code of Federal Regulations

e-CFR data is current as of January 23, 2020

Title 12Chapter IPart 150 → §150.40


Title 12: Banks and Banking
PART 150—FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS


§150.40   When do I have investment discretion?

(a) General. You have investment discretion when you have, with respect to a fiduciary account, the sole or shared authority to determine what securities or other assets to purchase or sell on behalf of that account. It does not matter whether you have exercised this authority.

(b) Delegations. You retain investment discretion if you delegate investment discretion to another. You also have investment discretion if you receive delegated authority to exercise investment discretion from another.

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