This is the second in a series of conferences to explore the regulation of mutual funds. Mutual funds are only one form of collective investment vehicle regulated at the federal level.  Other categories include bank common trust funds and collective investment funds, both of which are exempt from the Investment Company Act of 1940 (the ’40 Act) and regulated by the Office of the Comptroller of the Currency, the supervisor of national banks. Federal savings-and-loan associations, regulated by the Office of Thrift Supervision, may also sponsor collective investment vehicles under virtually the same rules as national banks.  In this conference, we will discuss how these bank-sponsored collective investment vehicles are regulated, and how this regulatory structure differs from the SEC’s regulation of mutual funds under the ’40 Act.