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How are Collective Investment Funds (CIFs) regulated?

For national banks, a Collective Investment Fund (CIF) must be established under state trust law. It must be operated in compliance with banking regulations established by the Office of the Comptroller of the Currency (OCC) published in 12 CFR 9 "Fiduciary Activities of National Banks."

The OCC has also issued a "Collective Investment Funds" booklet of the Comptroller's Handbook. It provides information on CIFs, outlines the CIFs' associated risks, and establishes a framework for managing those risks.

Last Reviewed: October 2020

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.

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