Ex. AGY-FED-FINANCIAL-019 Context (guidance or announcement) Primary source read

OCC Bulletin 2020-51

Corporate Governance: Annual Meetings and the COVID-19 Emergency

Office of the Comptroller of the Currency · United States; Office of the Comptroller of the Currency (federal) (Federal)

Open exhibit (PDF, 75 KB)Source

The COVID Project

Context, not an order

This record is guidance or an announcement kept for context. It is not counted among the orders in force.

Jurisdiction

United States; Office of the Comptroller of the Currency (federal)

Level

Federal

Authority

12 U.S.C. § 93a; § 1464

Issued

2020-05-12 May 12, 2020

Effective

2020-05-12

End

Superseded in part by the IFR of May 28, 2020 (Ex. 020); not rescinded within the period (read as 2020-05-28)

In force

May 12, 2020 to May 28, 2020

Quarters

2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3

Limitation types

Gathering cap Other

Addressees

Chief Executive Officers of All National Banks, Federal Savings Associations

Functions reached

OP corporate governance (annual shareholder meetings moved, postponed or held virtually)
MK shareholder relations
CB shareholders

Character

context

Collection

Federal financial regulators AGY-FED-FINANCIAL

Operative words

[Banks may be unable to hold] their annual meetings as a result of stay-at-home and similar orders and potential [health concerns].... For national banks, the requirement to hold an annual meeting is governed by state [law].... For FSAs, the requirement to hold an annual meeting is governed by OCC regulations.

Enforcement

Supervisory bulletin; 12 C.F.R. part 5

Notes

The OCC's own statement that stay-at-home orders prevented banks from holding annual meetings

Retrieval note

Rendered from the live OCC page (header 'OCC Bulletin 2020-51 | May 12, 2020' verified). Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).

The chain

Related instruments

Download this chain (ZIP: 8 files, ~1.4 MB)

Exhibit	Instrument	Issuer	Issued	Quarters	Relation
Ex. SEC-13-GM-026	Office of the Comptroller of the Currency, interim final rule, Director, Shareholder, and Member Meetings, 85 Fed. Reg. 31943 (May 28, 2020) (RIN 1557-AE94), effective May 28, 2020 (same instrument as Ex. AGY-FED-FINANCIAL-020)Annual and special meetings of shareholders of national banks, federal savings associations, State banks and…	each institution's board, under the OCC's rules (12 C.F.R. §§ 5.22, 7.2001), State corporation and banking law and the federal proxy rules	May 28, 2020	2020 Q2	Cross-referenced
Ex. SEC-13-GM-027	ABA Banking Journal, 'OCC Rule Clarifies Virtual Meeting Options for National Banks, Federal Thrifts' (May 27, 2020)Annual and special meetings of shareholders of national banks, federal savings associations, State banks and…	each institution's board, under the OCC's rules (12 C.F.R. §§ 5.22, 7.2001), State corporation and banking law and the federal proxy rules	May 27, 2020	2020 Q2	Cross-referenced
Ex. SEC-13-GM-029	SEC Division of Corporation Finance and Division of Investment Management, Staff Guidance for Conducting Shareholder Meetings in Light of COVID-19 Concerns (Mar. 13, 2020; updated Apr. 7, 2020) (same instrument as Ex. AGY-FED-FINANCIAL-053)Annual and special meetings of shareholders of national banks, federal savings associations, State banks and…	each institution's board, under the OCC's rules (12 C.F.R. §§ 5.22, 7.2001), State corporation and banking law and the federal proxy rules	Apr. 7, 2020	2020 Q2	Cross-referenced
Ex. SEC-13-GM-126	SEC Division of Corporation Finance and Division of Investment Management, 'Staff Guidance for Conducting Shareholder Meetings in Light of COVID-19 Concerns' (Mar. 13, 2020, as updated Apr. 7, 2020): changes of date, time or location; 'virtual' and 'hybrid' meetings 'governed by state law, where permitted, and the issuer's governing documents' (second capture; see also SEC-13-GM-029)Annual and special meetings of shareholders of national banks, federal savings associations, State banks and…	each institution's board, under the OCC's rules (12 C.F.R. §§ 5.22, 7.2001), State corporation and banking law and the federal proxy rules	Apr. 7, 2020	2020 Q2	Cross-referenced
Ex. AGY-FED-FINANCIAL-020	Interim final rule, Director, Shareholder, and Member Meetings, 85 Fed. Reg. 31943 (May 28, 2020) (RIN 1557-AE94); technical correction 85 Fed. Reg. 35373 (June 10, 2020)Director, Shareholder, and Member Meetings	Office of the Comptroller of the Currency	May 28, 2020	2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3	Same issuer, within ninety days
Ex. AGY-FED-FINANCIAL-013	OCC Bulletin 2020-23Pandemic Planning: Essential Critical Infrastructure Workers in the Financial Services Sector	Office of the Comptroller of the Currency	Mar. 25, 2020	2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3	Same issuer, within ninety days
Ex. AGY-FED-FINANCIAL-004	OCC Bulletin 2020-15Pandemic Planning: Working With Customers Affected by Coronavirus and Regulatory Assistance	Office of the Comptroller of the Currency	Mar. 13, 2020	2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3	Same issuer, within ninety days

OCC Bulletin 2020-51

The record

Operative words

Enforcement

Notes

Related instruments