The Federal Deposit Insurance Corp. aims to release in September the results of a massive study of bank investment sales practices, officials close to the project said.
An account manager for the Bellevue, Wash., firm commissioned by the FDIC said it is in the midst of gathering the data and expects to finish its research by Sept. 1. Jeffrey A. Liekhus of Market Trends said he was in discussions to have officials from his firm and the FDIC present the results at a Washington conference of the Bank Securities Association conference in late September.
Robert F. Miailovich, an associate director of policy for the FDIC's division of supervision, expressed doubt that the "initial release" of the study will be at an industry conference, saying a press conference by the FDIC is more likely. But he added that the study will "obviously be speech discussion material" at conferences.
Market Trends is working with the FDIC to "mystery shop" FDIC-insured banks from around the country. One of the primary goals is to determine how well banks are complying with retail investment sales guidelines issued last year by banking regulators.