Regulation 9

“Regulation 9” is the name of the area where all the sick and malnourished aliens were sent after their ship was discovered hovering above Johannesburg, South Africa. Eh...wait a second. That’s the premise behind District 9, a sci-fi movie that came out in 2009. Let’s try this again.

“Regulation 9” is a policy that allows national banks to act as fiduciaries. This means they can handle stocks and bonds, manage investment funds, and act as financial trustees. Regulation 9 only applies to national banks, and they can only get their fiduciary-ness on in states that don’t have laws against it. There are lots of rules that guide the types of funds a bank can offer and how the banks are supposed to monitor and report their fiduciary activities, just so the government can be sure they’re not being shady.

So maybe Regulation 9 isn’t quite as fascinating as a camp for sick extra-terrestrials, but it does give banks—and their clients—easier access to certain investment opportunities. Which is pretty cool.