News & Analysis as of

Investment Adviser Volcker Rule

Morrison & Foerster LLP

Marketing Private Funds to U.S. Investors — A Practical Guide for Asia-Based Managers

As the private equity (“PE”) and venture capital (“VC”) funds industry grows and matures in Asia, managers are increasingly looking to market interests in their funds to U.S.-based investors. However, many Asia-based managers...more

Orrick, Herrington & Sutcliffe LLP

Recent Amendments to the Volcker Rule Will Benefit CLOs and the Banks That Invest in Them

There is some (at least regulatory) good news for CLOs this summer. In late June, the Federal Reserve Board, the Treasury Department, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation,...more

Proskauer Rose LLP

Volcker Rule Amendments: Implications for Asset Managers

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On June 25, 2020, the Federal Reserve Board, the OCC, the FDIC, the SEC and the CFTC (collectively, the "Agencies") adopted amendments (the "Amendments") to the regulations implementing section 13 of the Bank Holding Company...more

Kramer Levin Naftalis & Frankel LLP

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Section 13 of the Bank Holding Company Act of 1956 (the BHC Act) generally prohibits any insured depository institution (as defined in Section 3(c) of the Federal Deposit Insurance Act, but excluding institutions that...more

Goodwin

Financial Services Weekly News: Agencies Simplify Volcker Rule

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In This Issue. The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) approved an interagency final rule to simplify and tailor requirements relating to the Volcker Rule; the...more

Jones Day

Five Federal Financial Regulators Exclude Community Banks From Volcker Rule Regulations

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Federal financial regulators issued a rule excluding community banks from the Volcker Rule regulations. This rule conforms the regulations to similar statutory changes enacted in May 2018. On July 9, 2019, the Board of...more

Stinson LLP

Community Banks Set to be Excluded from the Volcker Rule

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Last week, federal regulators finalized a rule to exempt community banks from proprietary trading at banks. In addition, the revised rule will also allow certain hedge funds or private equity funds to share the same name or...more

Goodwin

Financial Services Weekly News - December 2018 #3

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Editor's Note - In This Issue. Federal financial regulators issues a proposed rule exempting community banks from the Volcker Rule; the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking...more

Akin Gump Strauss Hauer & Feld LLP

Investment Management Special Report - 2018-19 Compliance Developments & Calendar for Private Fund Advisers

Despite the new administration, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have both continued to make novel interpretations and to bring enforcement actions that break...more

Pillsbury Winthrop Shaw Pittman LLP

Registered Firms: Annual Compliance Obligations—What You Need To Know

This alert contains a summary of the primary annual and periodic compliance-related obligations that may apply to investment advisers registered with the Securities and Exchange Commission (the “SEC”) or with a particular...more

Goodwin

Financial Services Weekly News - July 2017 #3

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Editor's Note - Going Strong to the Mic. The Office of the Comptroller of the Currency’s (OCC) proposed special purpose nondepository national bank charter for FinTech companies (FinTech Charter) has long been the source...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The latest Wall Street revolution appears to be driven in large part by companies like Creative Planning, a registered investment adviser in a suburb of Kansas City that’s helping lead a shift away from brokers and mutual...more

Morrison & Foerster LLP

Big Regulatory Changes in Store for Funds and Advisers? No One Knows for Certain, but Here’s Our Best Guess

While no one knows for sure what the future holds for investment management regulation, the tea leaves indicate that we may expect a slowdown on new regulations, some pullback on parts of the Dodd-Frank Wall Street Reform and...more

Goodwin

Financial Services Weekly News - May 2016

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Regulatory Developments - CFPB Responds to Industry Concerns on Know Before You Owe Rule - On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more

Stinson - Corporate & Securities Law Blog

Legislation Amending Volcker Rule Passes in House

The Investor Clarity and Bank Parity Act (HR 4096) passed in the U.S. House of Representatives. The Volcker Rule adopted by the regulators limited the ability of bank holding companies and their affiliates, including...more

Katten Muchin Rosenman LLP

Bridging the Week - October 2015 #2

SEC-Sanctioned Trader Began Alleged Spoofing After Complaining About Spoofing by Others to NYSE - Eric Oscher and Briargate Trading, LLC, a company 50 percent owned by Mr. Oscher, agreed to pay an aggregate fine of US...more

Goodwin

Federal Regulators Issue Volcker Rule FAQ Addressing Investment Fund Seeding Periods

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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

Goodwin

Financial Services Weekly News Roundup - May 2015 #3

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SEC Proposals to Enhance Investment Company and Investment Adviser Reporting: As we went to press, the SEC commissioners announced that they had voted to approve two proposals. The first was for new and amended rules and...more

Morrison & Foerster LLP

House Passes Bill to Ease Volcker Rule and other Regulatory Requirements

The U.S. House of Representatives on January 14, 2015, voted (271-154) to pass H.R. 37, the “Promoting Job Creation and Reducing Small Business Burdens Act.” If enacted, the bill, among other things, would extend the Volcker...more

Goodwin

Financial Services Weekly News Roundup - December 2014 #4

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Regulatory Developments - SEC Proposes Changes to Exchange Act Registration Requirements to Implement JOBS Act Mandates - The SEC announced that it is proposing rule amendments under the Securities Exchange Act...more

Ballard Spahr LLP

Investment Management Update

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In This Issue: - SEC Announces First-of-Its-Kind Whistleblower Award To an Audit and Compliance Professional - SEC Issues No-Action Letter To Allow for Amendment of a Sub-Advisory Agreement without Shareholder...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending February 14, 2014)

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The Commission prevailed after a two week jury trial in an insider trading case this week, ending a string of losses. The agency also filed two settled actions, one based on insider trading claims and another involving...more

Dechert LLP

SEC’s Division of Investment Management Issues Recommendations for Funds and Fund Advisers in Light of Reduced Market-Making...

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The Division of Investment Management (“Division”) of the U.S. Securities and Exchange Commission (“SEC”) recently published guidance (“Guidance”) addressing steps that funds and fund advisers should consider in light of...more

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