In this issue:
- SEC Issues Additional Guidance on Emerging Growth Companies
- CFTC Adopts Final Rules Defining Swap Dealer, Major Swap Participant, and Eligible Contract Participant
- CFTC Adopts a Final Rule and an Interim Final Rule Regarding Commodity Options
- President Obama Issues Statement on Regulatory Oversight of Oil Markets
- ICI and Chamber of Commerce Challenge CFTC Amendment to Rule 4.5
- D.C. Circuit Finds FERC Order Denying Market-Based Rate Authority Unreasonable
- Court Considers “Motive and Opportunity” and “Core Operations” Theories of Scienter
- New IRS Regulations Imposing Fees Upon Self-Insured Plans and Health Insurance Policies
- Volcker Rule Conformance Period Clarified
- Federal Reserve Seeks Comment on When a Non-Bank Company is "Predominantly Engaged in Financial Activities"
- OCC Issues Bulletin Focusing on Troubled Debt Restructurings
An excerpt from "Volcker Rule Conformance Period Clarified"
The Federal Reserve Board on April 19 clarified that an entity covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the so-called Volcker Rule, has the full two-year period provided by the statute to fully conform its activities and investments. The Board may further extend the conformance period. Section 619 generally requires banking entities to conform their activities and investments to the prohibitions and restrictions included in the statute on proprietary trading activities and on hedge fund and private equity fund activities and investments. Section 619 required the Board to adopt rules governing the conformance periods for activities and investments restricted by that section, which the Board did on February 9, 2011. As has been widely reported, the rules adopted have been criticized for being too complex, restraining otherwise non-harmful market activities, and having adverse and unintended economic effects.
Please see full newsletter below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.