Regulatory Alerts2019-02-08 | 2019-00797Added
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, FDIC, SEC, and CFTC propose to amend regulations implementing the Bank Holding Company Act’s prohibitions on proprietary trading and interests in hedge funds and private equity funds to align with statutory changes from the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposal excludes from these restrictions any insured depository institution and its affiliates that have total consolidated assets of $10 billion or less and total trading assets and liabilities equal to five percent or less of total consolidated assets. Additionally, the proposal amends name-sharing restrictions to permit a banking entity acting as an investment adviser to share a name with a hedge fund or private equity fund it organizes and offers, provided the adviser is not an insured depository institution or a company controlling one.
More like this from FRB
FRB published 2 documents in the last 30 days. We email you each new one the day it's published.