Section 9.6 of the OCC regulations are reprinted here:
§ 9.6 Review of fiduciary accounts.
(a) Pre-acceptance review. Before accepting a fiduciary account, a national bank shall review the prospective account to determine whether it can properly administer the account.
(b) Initial post-acceptance review. Upon the acceptance
of a fiduciary account for which a national bank has investment discretion,
the bank shall conduct a prompt review of all assets of the account to
evaluate whether they
are appropriate for the account.
(c) Annual review. At least once during every calendar year, a bank shall conduct a review of all assets of each fiduciary account for which the bank has investment discretion to evaluate whether they are appropriate, individually and collectively, for the account.
The Office of the Comptroller of the Currency regulations can be viewed at the following link http://www.occ.treas.gov/fr/cfrparts/12CFR09.htm. Alternatively, you can visit http://www.occ.treas.gov and search for "12 C.F.R. Part 9."
