Regulatory Alerts2020-02-28 | 2020-02707Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
The OCC, Board of Governors of the Federal Reserve System, FDIC, SEC, and CFTC jointly issued a notice of proposed rulemaking to amend regulations implementing Section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule. The proposal seeks to streamline and clarify requirements related to covered funds by introducing new exclusions for credit funds, venture capital funds, and family wealth management vehicles, while modifying existing exclusions for foreign public funds and loan securitizations. These changes aim to tailor compliance obligations based on risk and address specific aspects of proprietary trading prohibitions and relationships with hedge funds and private equity funds.
Share