Regulatory Alerts2020-02-28 | 2020-02707Added
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 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 fund provisions 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. Banking entities and nonbank financial companies supervised by the Board are invited to submit comments on these changes by April 1, 2020.
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