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Trust Assets: Investment of Trust Assets in Bank Proprietary Mutual Funds

GGD-95-21 Published: Mar 16, 1995. Publicly Released: Mar 16, 1995.
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Highlights

Pursuant to a congressional request, GAO provided information on the extent to which banks have invested trust assets into proprietary mutual funds, focusing on: (1) the disclosure and consent requirements that apply when trust assets are invested into these funds; (2) whether double fees on invested trust assets are legal; and (3) the regulatory controls that prevent banks from acting in their own self-interest.

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AssetsBank examinationBank managementBanking regulationDisclosure lawFinancial institutionsInsured commercial banksInvestment planningInvestmentsMutual funds