The FDIC’s recordkeeping and confirmation requirements for effecting securities transactions requires all bank officers of state non-member banks and all employees who, in connection with their duties, make or participate in investment decisions for the account of customers to report to the bank all securities transactions made by them or on their behalf, either at the bank or elsewhere in which they have a beneficial interest within 30-calendar days after the end of the calendar quarter. The report must identify the securities purchased or sold and indicate the dates of the transactions and whether the transactions were purchases or sales. These reports were previously required to be made within 10 business days after the end of each calendar quarter. The final rule became effective on November 26, 2007.