Volcker Rule: An Initial Look at Significant Changes

On December 10, 2013 the US federal banking agencies, along with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) (collectively, the Agencies), adopted the long-­awaited and much-­anticipated final regulations (the Final Rule) that implement Section 619 of the Dodd-­Frank Wall Street Reform and Consumer Protection Act (the Dodd-­Frank Act), commonly referred to as the “Volcker Rule”.

The Volcker Rule is a key component of the US financial reform effort under the Dodd-­Frank Act, and represents perhaps the most significant changes in US financial regulation in decades. This Client Alert provides an initial look at noteworthy changes made in the Final Rule.

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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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