021-14 Wyo. Code R. §§ 14-12 - Examination; Unsound and Unauthorized Practice; Remedy

(a) The brokerage activities of a bank and the banks relationship with a broker on bank premises are subject to examination by the Commissioner. Violation of any state or federal law, or violation of a regulation of the Commissioner or any state or federal agency with jurisdiction over the sale of securities, or a regulation of the FRB or the FDIC governing the sale of securities by member or nonmember state banks, or any act or omission in the performance of brokerage services which places the bank at risk of liability for losses, penalties or damages, may constitute an unsound and unauthorized practice. The Commissioner may invoke such remedies as provided by law for any such violation.

(b) The transactions of a bank and its relationship with a covered agent is subject to examination by the Commissioner for compliance with all state and federal laws applicable to depository institutions.

(c) Transactions involving bank-related sales of insurance are subject to examination by the Insurance Commissioner for compliance with the insurance laws.

(d) Violation of any state or federal laws or regulations applicable to bank-related sales of insurance, or any act or omission in the performance of bank-related sales of insurance which places the bank at risk of liability for losses, penalties or damages, may constitute an unsafe, unsound and unauthorized practice. For any violation found, the Commissioner may invoke such remedies under the Banking Statutes or these Regulations, and the Insurance Commissioner may invoke such remedies under the insurance laws.

Notes

021-14 Wyo. Code R. §§ 14-12