Regulatory Alerts2019-11-14 | 2019-22695Prohibitions and Restrictions on Proprietary Trading and Certain Interests in Hedge Funds and Private Equity Funds
The OCC, Board of Governors of the Federal Reserve System, FDIC, SEC, and CFTC adopted final amendments to the regulations implementing Section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule. These amendments tailor compliance requirements based on a banking entity's size and trading activity, revise the definition of trading accounts, and modify exemptions for underwriting, market making, and hedging. The rule aims to provide greater clarity on prohibited activities and improve the efficiency of supervision and implementation for banking entities.
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