Regulatory Alerts2020-02-28 | 2020-02707Added · Updated
Proposed 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 propose amendments to regulations implementing Section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule. These proposed changes aim to streamline and clarify requirements regarding covered fund provisions, including new exclusions for credit funds, venture capital funds, and family wealth management vehicles. The agencies seek public comment on these modifications to proprietary trading restrictions and relationships with hedge funds and private equity funds by April 1, 2020.
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