Section 16.1 - Authority, purpose, and scope(a)Authority. This part is issued under the rulemaking authority of the Comptroller of the Currency (OCC) for national banks in 12 U.S.C. 1 et seq., and 93a, and for Federal savings associations in 12 U.S.C. 1462a , 1463 , 1464 , and 5412(b)(2)(B) .(b)Purpose. This part sets forth rules governing the offer and sale of securities issued by a national bank or Federal savings association.(c)Scope. This part applies to offers and sales of national bank or Federal savings association securities by issuers, underwriters, and dealers.59 FR 54798, Nov. 2, 1994, as amended at 82 FR 8107 , Jan. 23, 2017