Ohio § 1315.121

§ 1315.121.

(A) In administering sections 1315.01 to 1315.18 of the Revised Code and fulfilling the duties imposed by those sections, including the duty imposed by section 1315.12 of the Revised Code , the superintendent of financial institutions may do any of the following: (1) Participate with financial institution regulatory authorities of this and other states,

the United States, and other countries in any of the following: (a) Programs for alternate examinations of the records and affairs of licensees and other

money transmitters over which they have concurrent jurisdiction; (b) Joint or concurrent examinations of the records and affairs of licensees and other

money transmitters over which they have concurrent jurisdiction; (c) Coordinated examinations of the records and affairs of licensees and other money

transmitters over which they have collective jurisdiction. (2) Conduct, participate in, or coordinate independent, concurrent, joint, or coordinated

examinations of the records and affairs of licensees and other money transmitters

and otherwise act on behalf of financial institution regulatory authorities of this

and other states, the United States, and other countries having jurisdiction over

the licensees and other money transmitters; (3) Rely on information leading to, arising from, or obtained in the course of examinations

conducted by financial institution regulatory authorities of this and other states,

the United States, and other countries when both of the following apply: (a) Pursuant to agreement and applicable law, the superintendent may receive and use

the information leading to, arising from, or obtained in the course of the other regulatory

authorities' examinations in administering sections 1315.01 to 1315.18 of the Revised Code and acting under the authority of those sections; (b) In the superintendent's judgment the other regulatory authorities' personnel, practices,

and authority warrant the superintendent's reliance. (4) Authorize financial institution regulatory authorities of this and other states,

the United States, and other countries to receive and use information leading to,

arising from, or obtained in the course of examinations conducted by the division

of financial institutions in the same manner and for the purposes they could use information

leading to, arising from, or obtained in the course of their own examinations when

both of the following apply: (a) Pursuant to applicable law, information leading to, arising from, or obtained in

the course of examinations the other regulatory authorities conduct is protected from

general disclosure and may only be disclosed for purposes similar to those provided

in section 1315.122 of the Revised Code , which are principally regulatory in nature, for disclosure of information leading

to, arising from, or obtained in the course of examinations conducted by the division; (b) Pursuant to agreement and applicable law, information leading to, arising from, or

obtained in the course of examinations conducted by the division will, in the other

regulatory authorities' possession or the possession of any persons to whom the other

regulatory authorities disclosed the information as a part of examinations of those

persons, be protected from disclosure to the same extent as information leading to,

arising from, or obtained in the course of those regulatory authorities' examinations. (5) Rely on the actions of financial institution regulatory authorities of this and other

states, the United States, or other countries, or participate with them jointly, in

responding to violations of law, unsafe or unsound practices, breaches of fiduciary

duty, or other regulatory concerns affecting licensees and other money transmitters

over which they have concurrent jurisdiction when the other regulatory authorities

have adequate personnel, practices, and authority to warrant the reliance; (6) Implement other cooperative arrangements with financial institution regulatory authorities

of this and other states, the United States, and other countries consistent with safety

and soundness. (B) No person shall use any reliance by the superintendent, in whole or in part, on financial

institution regulatory authorities of this or other states, the United States, or

other countries in accordance with division (A) of this section to support any assertion

of either of the following: (1) Failure of the superintendent or division to properly administer sections 1315.01 to 1315.18 of the Revised Code or fulfill the duties imposed by those sections; (2) Disagreement by the superintendent or division with any action taken by financial

institution regulatory authorities of this or other states, the United States, or

other countries. (C) In conducting, participating in, or coordinating independent, concurrent, joint,

or coordinated examinations of the records and affairs of licensees and other money

transmitters, the superintendent may purchase services from financial institution

regulatory authorities of this and other states, the United States, and other countries,

including services provided by employees of other financial institution regulatory

authorities in their capacities as employees of other financial institution regulatory

authorities.  The purchase of services from one or more financial institution regulatory authorities

of this and other states, the United States, or other countries is the purchase of

services from a sole source provider and is not the employment of any financial institution

regulatory authority or any of its employees. The authority to purchase services pursuant to this division does not impair the superintendent's

authority to purchase services from any other source.