An industrial bank or industrial loan company (each, an ILC) charter can be an attractive option for a financial technology company (fintech) or other company seeking to enter the banking space. In June 2024, the Federal...more
7/1/2024
/ Bank Holding Company Act ,
Business Model ,
Community Banks ,
Compliance ,
Deposit Insurance ,
Dodd-Frank ,
EGRRCPA ,
FDIC ,
FinTech ,
Fintech Charter ,
Non-Bank Lenders ,
Nonbank Firms ,
Volcker Rule
The five U.S. federal regulatory agencies responsible for implementing the Volcker rule — the Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of the Currency (OCC), the...more
7/8/2020
/ Asset Management ,
Banking Sector ,
CFTC ,
Covered Funds ,
Exclusions ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
Investment Funds ,
Investment Management ,
Investors ,
OCC ,
Ownership Interest ,
Relief Measures ,
Securities and Exchange Commission (SEC) ,
Volcker Rule ,
Wealth Management
On July 7, 2016, the Board of Governors of the Federal Reserve System announced that it has further extended the conformance period under the Volcker rule until July 21, 2017, to allow banking entities to conform their...more
The Volcker rule generally prohibits banking entities from engaging in proprietary trading and from sponsoring and/or investing in certain types of “covered” investment funds. The implementing regulation that the Agencies...more
7/20/2015
/ Business Development Companies ,
CFTC ,
Covered Banking Entity ,
FDIC ,
Federal Reserve ,
Investment Adviser ,
Investment Companies ,
New Guidance ,
OCC ,
Proprietary Trading ,
Securities and Exchange Commission (SEC) ,
Seed Financing ,
Volcker Rule
The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the “SEC”) issued a final rule, and the Commodity Futures...more
1/2/2014
/ Banking Reform Bill ,
Compliance ,
Covered Banking Entity ,
Dodd-Frank ,
Final Rules ,
Financial Instruments ,
Foreign Investment ,
Hedging ,
Market Making ,
Proprietary Trading ,
Reporting Requirements ,
Risk Mitigation ,
Underwriting ,
Volcker Rule
The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more
12/20/2013
/ Asset Management ,
Asset-Backed Securities ,
Bank Holding Company Act ,
Banks ,
Bonds ,
CFTC ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
Fiduciary Duty ,
Financial Market Utilities ,
FSOC ,
Joint Venture ,
Life Insurance ,
Nonbank Firms ,
OCC ,
Pensions ,
Private Funds ,
Proprietary Trading ,
REIT ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Subsidiaries ,
Tender Offers ,
Venture Capital ,
Volcker Rule