Federal Agricultural Mortgage Corporation; Conflicts of Interest

Samenvatting

The Farm Credit Administration (FCA), by the Farm Credit Administration Board, adopts a new regulation relating to reporting and disclosure of conflicts of interest by directors, officers, and employees of the Federal Agricultural Mortgage Corporation (Corporation). The regulation is adopted in response to section 514 of the Farm Credit Banks and Associations Safety and Soundness Act of 1992. Section 514 directs the FCA to ensure that its regulations require the disclosure of financial information and the reporting of potential conflicts of interest by directors, officers, and employees of all Farm Credit System (System) institutions and that such requirements are adequate to fulfill the purposes of the section. The regulation requires the Corporation to adopt a conflict-of- interest policy that defines the types of relationships, transactions, or activities that might reasonably be expected to give rise to a potential conflict of interest. The regulation also requires the reporting of sufficient information about financial interests, transactions, relationships, and activities to inform the Corporation about potential conflicts of interest. The regulation further requires disclosu