Title 12 — Banks and Banking
Chapter 52 — Emergency Economic Stabilization
§ 5218. Conflicts of interest
Statutory text
Standards required
The Secretary shall issue regulations or guidelines necessary to address and manage or to prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this chapter, including—
conflicts arising in the selection or hiring of contractors or advisors, including asset managers;
the purchase of troubled assets;
the management of the troubled assets held;
post-employment restrictions on employees; and
any other potential conflict of interest, as the Secretary deems necessary or appropriate in the public interest.
Timing
Regulations or guidelines required by this section shall be issued as soon as practicable after .
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Emergency Economic Stabilization Act of 2008
Pub. L. 110–343 div. A title I § 108 · 122 Stat. 3765
Enacted · 12 U.S.C. § 5218
(Pub. L. 110–343, div. A, title I, § 108, Oct. 3, 2008, 122 Stat. 3774.)
Source evidence
Code source credit
(Pub. L. 110–343, div. A, title I, § 108, Oct. 3, 2008, 122 Stat. 3774.)Enacted provision · exact public law section
SEC. 108. CONFLICTS OF INTEREST. (a) Standards Required.— The Regulations. Secretary shall issue regulations or guidelines necessary to address and manage or to prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this Act, including— (1) conflicts arising in the selection or hiring of contractors or advisors, including asset managers; (2) the purchase of troubled assets; (3) the management of the troubled assets held; (4) post-employment restrictions on employees; and (5) any other potential conflict of interest, as the Secretary deems necessary or appropriate in the public interest. (b) Timing.— Regulations or guidelines required by this section shall be issued as soon as practicable after the date of enactment of this Act.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
This chapter, referred to in subsec. (a), was in the original “this Act” and was translated as reading “this division”, meaning div. A of Pub. L. 110–343, , 122 Stat. 3765, known as the Emergency Economic Stabilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see Short Title note set out under section 5201 of this title and Tables.
Credits
(Pub. L. 110–343, div. A, title I, § 108, , 122 Stat. 3774.)