(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.
8-061.1
(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.
