Regulatory Alerts2011-11-07 | 2011-27184Added · Updated
Proposed Rule on Prohibitions and Restrictions on Proprietary Trading and Certain Interests in Hedge Funds and Private Equity Funds
The OCC, Board of Governors of the Federal Reserve System, FDIC, and SEC issued a joint notice of proposed rulemaking to implement Section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule. The proposal seeks to prohibit banking entities from engaging in proprietary trading and restricts their ownership interests in, sponsorship of, or relationships with hedge funds and private equity funds. The Agencies are requesting public comments on the proposed regulations by January 13, 2012, to establish a comprehensive framework for compliance and supervision.
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