New Jersey Administrative Code
Title 3 - BANKING
Chapter 6 - GENERAL PROVISIONS
Subchapter 16 - QUALIFIED BANK ACQUISITION OF UNDERWRITTEN SECURITIES
Section 3:6-16.4 - Required records
Universal Citation: NJ Admin Code 3:6-16.4
Current through Register Vol. 56, No. 18, September 16, 2024
(a) To support compliance with the provisions of 3:6-16.2, a qualified bank shall retain its records relative to the transaction for two years from the date of the acquisition, which records shall include at a minimum:
1. The quality rating of the issue of the
security;
2. The price, yield and
term of the security;
3. Any and
all fees and/or commissions paid;
4. The portion of the total issue of the
security acquired by the qualified bank for its trust accounts and the trust
accounts of any affiliated bank; and
5. The date or dates of purchase.
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