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Informational Memorandum
Subject:Notice of Prohibition
Date of Memorandum:03/13/2009
Expiration Date:
Signed By:McKenzie, Thomas
FCA Contact Person:Paulsen, Roger
Contact Phone:703-883-4265
List of Attachments:

Printer-friendly version => IM-Notice of Prohibition-Holcomb.pdf

March 13, 2009

To: Chairman, Board of Directors
Chief Executive Officer
All Farm Credit System Institutions

From: Thomas G. McKenzie, Director and Chief Examiner
Office of Examination

Subject: Notice of Prohibition

This memorandum informs the Farm Credit System (FCS or System) that the Farm Credit Administration (FCA) has issued a Notice of Prohibition to Suzanne Holcomb (a former employee of First Pioneer, ACA) on March 13, 2009, and that she is prohibited from serving in a System institution under Section 5.65(d), 12 U.S.C. 2277a-14, of the Farm Credit Act (Act) as a result of a conviction of a criminal offense involving dishonesty or a breach of trust.

Section 5.65(d) provides that, except with the prior written consent of the FCA, it shall be unlawful for any person convicted of any criminal offense involving dishonesty or a breach of trust to serve as a director, officer, or employee of any FCS institution. An institution that violates Section 5.65(d) can be fined $100 per day for each day the violation occurs. Section 5.65(d) does not impose a penalty against the individual.

Prohibitions are also issued regularly by other Federal regulators. In an Informational Memorandum dated August 4, 2006, we provided a listing of the Web sites where notices are posted.

We continue to urge you to monitor these Web sites regularly for updates, and specifically check for prohibitions before offering employment to anyone. If you have any questions regarding this Informational Memorandum, please contact Roger Paulsen, Director, Risk Supervision Division, Office of Examination, at (703) 883-4265, or by e-mail at or Jane Virga, Senior Counsel, Office of General Counsel, at (703) 883-4071, or by e-mail at