The OCC recently issued an advance notice of proposed rulemaking  (ANPR) regarding the scope of activities that are fiduciary in nature, as well as the requirements of non-fiduciary custody activities of national banks, federal thrifts and federal branches of foreign banks. In particular, the OCC is considering amending the definition of “fiduciary capacity” to include trust-related roles allowed under state law that do not involve investment discretion—for example the roles of “trust protector,” “trust director” and “distribution trust adviser.” The OCC is also exploring the possibility of issuing explicit regulations governing non-fiduciary custody activities, activities which are currently subject to non-regulatory guidance in OCC handbooks and bulletins. The ANPR has a comment deadline of June 28, 2019. The author gives attribution to the ABA for this announcement.