12 CFR § 264a.4 - When do these special restrictions become effective and may they be waived?
---
identifier: "/us/cfr/t12/s264a.4"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 264a.4 - When do these special restrictions become effective and may they be waived?"
title_number: 12
title_name: "Banks and Banking"
section_number: "264a.4"
section_name: "When do these special restrictions become effective and may they be waived?"
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "A"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
part_number: "264a"
part_name: "POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1820(k)."
regulatory_source: "70 FR 69638, Nov. 17, 2005, unless otherwise noted."
cfr_part: "264a"
---
# 264a.4 When do these special restrictions become effective and may they be waived?
The post-employment restrictions set forth in section 10(k) of the FDI Act and § 264a.3 do not apply to any officer or employee of the Federal Reserve, or any former officer or employee of the Federal Reserve, if—
(a) The individual ceased to be an officer or employee of the Federal Reserve before December 17, 2005; or
(b) The Chairman of the Board of Governors certifies, in writing and on a case-by-case basis, that granting the individual a waiver of the restrictions would not affect the integrity of the Federal Reserve's supervisory program.