As part of an audit or regulatory examination of an eligible lending institution or custodian, the auditor or examiner shall examine and verify pledged securities and records maintained under this subchapter, and shall report any significant or material noncompliance with this subchapter to the comptroller and the Board.

Source Note: The provisions of this §375.214 adopted to be effective September 8, 2010, 35 TexReg 8126