The Volcker Rule Prohibition on Proprietary Trading: Considerations for Broker-Dealer Affiliates of Foreign Banking Organizations

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The Volcker Rule imposes significant restrictions on “proprietary trading” by banking organizations and their affiliates. The purpose of this Memorandum is to discuss how these restrictions may impact broker-dealer affiliates of foreign banking organizations that conduct business in the United States or with U.S. customers.

Overview of the Restrictions on Proprietary Trading -

The Volcker Rule applies to all banking entities, which are defined to include foreign banking organizations that have U.S. branches or agencies or which own U.S. banks or certain other U.S. subsidiaries (“FBOs”). Also covered by the Rule are affiliates of FBOs, including affiliated broker-dealers located in the United States or overseas.

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Topics:  Banks, Broker-Dealer, Foreign Affiliates, Foreign Banks, Proprietary Trading, Volcker Rule

Published In: General Business Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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