Regulatory Alerts2019-07-22 | 2019-15019Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, and Relationships With, Hedge Funds and Private Equity Funds
The OCC, Board, FDIC, SEC, and CFTC adopted final rules to amend the Volcker Rule regulations in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act. These revisions exclude community banks with total consolidated assets of $10 billion or less and trading assets and liabilities of five percent or less from the prohibitions on proprietary trading and covered fund interests. The rules also revise naming restrictions to permit certain banking entity investment advisers to share a name with hedge funds or private equity funds under specified conditions.
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