Key Provisions of the Volcker Rule Final Regulations for Non-US Banking Entities | White & Case LLP International Law Firm, Global Law Practice
Key Provisions of the Volcker Rule Final Regulations for Non-US Banking Entities

Key Provisions of the Volcker Rule Final Regulations for Non-US Banking Entities

The five US financial agencies ("Agencies") have approved jointly prepared final regulations ("Final Rules") to implement the prohibitions on engaging in proprietary trading and investment in or sponsorship of a private equity fund or hedge fund that apply to "banking entities" as defined in the Final Rules.[1] These prohibitions are referred to as the Volcker Rule.[2] The Board of Governors of the Federal Reserve System ("Board"), the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Securities and Exchange Commission ("SEC") and the Commodities Futures Trading Commission approved virtually identical Final Rules on December 10, 2013.

 

[1] Agency Joint Release on Final Rules on Prohibition and Restrictions on Proprietary Trading and Certain Interests In, and Relationships with, Hedge Funds and Private Equity Funds (December 10, 2013) ("Release").
[2] The Volcker Rule is codified as Section 13 of the Bank Holding Company Act of 1956, as amended ("BHC Act"). 12 U.S.C. §1851.

Click here to download PDF.

 

This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
© 2013 White & Case LLP