How are Collective Investment Funds (CIFs) Regulated?

For national banks, a Collective Investment Fund (CIF) must be established under state trust law and must be operated in compliance with specific banking regulations established by the OCC that are published in Title 12 of the Code of Federal Regulations, section 9.18. OCC regulations require federal savings associations to follow section 9.18. The OCC has also issued a Collective Investment Funds Handbook that explains in greater detail how CIFs are established and sets forth the requirements imposed by the OCC for operating a CIF.