C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 263—RULES OF PRACTICE FOR HEARINGS › Subpart A—Uniform Rules of Practice and Procedure

12 C.F.R. § 263.18

Commencement of proceeding and contents of notice

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(a) Commencement of proceeding. (1)(i) Except for change-in-control proceedings under section 7(j)(4) of the FDIA, 12 U.S.C. 1817(j)(4), a proceeding governed by this subpart is commenced by issuance of a notice by the Board.

(ii) The notice must be served by Enforcement Counsel upon the respondent and given to any other appropriate financial institution supervisory authority where required by law. Enforcement Counsel may serve the notice upon counsel for the respondent, provided that Enforcement Counsel has confirmed that counsel represents the respondent in the matter and will accept service of the notice on behalf of the respondent.

(iii) Enforcement Counsel must file the notice with OFIA.

(2) Change-in control proceedings under section 7(j)(4) of the FDIA (12 U.S.C. 1817(j)(4)) commence with the issuance of an order by the Board.

(b) Contents of notice. Notice pleading applies. The notice must provide:

(1) The legal authority for the proceeding and for the Board's jurisdiction over the proceeding;

(2) Matters of fact or law showing that the Board is entitled to relief;

(3) A proposed order or prayer for an order granting the requested relief;

(4) The time, place, and nature of the hearing as required by law or regulation;

(5) The time within which to file an answer as required by law or regulation;

(6) The time within which to request a hearing as required by law or regulation; and

(7) That the answer and/or request for a hearing must be filed with OFIA.

Notes of Decisions
Cited in 2 cases, 1997–1997 · leading case: Interamericas Investments, Ltd. & Peter Ulrich v. Bd. of Governors of the Fed. Reserve Sys., 111 F.3d 376 (5th Cir. 1997).
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Interamericas Investments, Ltd. & Peter Ulrich v. Bd. of Governors of the Fed. Reserve Sys., 111 F.3d 376 (5th Cir. 1997). “12 C.F.R. § 263.18 (b)(2), (3). Although the Notice did not refer to a general cease and desist order, it did reference a specific cease and desist order, and “other affirmative action” that may be required by petitioners’ prior acts.”
Interamericas Invest v. Bd of Gov of the FR (5th Cir. 1997). “12 C.F.R. § 263.18 (b)(2), (3). Although the Notice did not refer to a general cease and desist order, it did - 21 - reference a specific cease and desist order, and “other affirmative action” that may be required by petitioners’ prior acts.”
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