Lamson Comments on Volcker Rule
Proprietary trading review: PRA report - The UK Prudential Regulation Authority (PRA) has published a report on the outcome of its proprietary trading review. The review was required under section 9 of the Financial...more
On January 30, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the Securities and Exchange...more
The federal agencies responsible for the Volcker Rule have proposed to clarify some requirements for exclusion from the definition of “covered fund” and to increase the types of funds excluded from that definition. The...more
Last week the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Commodity Futures...more
On January 30, 2020, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity...more
On January 30, 2020, the U.S. Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (“Fed”), the Federal Deposit...more
On January 30, the five federal financial agencies (Agencies) responsible for the administration of the Volcker Rule—the federal prohibitions on proprietary trading and private fund (covered funds) investments and sponsorship...more
On October 8, 2019, five federal agencies jointly announced that they had finalized revisions designed to simplify compliance with the Volcker Rule regulations implementing Section 13 of the Bank Holding Company Act. The...more
As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series...more
Shared office-space company WeWork, which had committed to moving forward with its planned IPO this week despite recent turmoil, appears likely to postpone the offering until at least October in an effort to shore up its...more
On Aug. 20, the Federal Deposit Insurance Corp. (the FDIC) and the Office of the Comptroller of the Currency (the OCC) approved amendments to the Volcker Rule, which restricts banking entities’ ability to engage in...more
On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) adopted final regulations (the “Amended Final Regulations”) revamping the regulations...more
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
Five federal financial regulatory agencies adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act....more
After a long lead up, the five agencies (Agencies) with responsibility for the regulations that implement the Volcker Rule (Regulations) have issued a wide ranging proposal to tailor the application of the Regulations in...more
The Federal Reserve Board (FRB) has taken the first step toward providing banks meaningful relief from the Volcker Rule by soliciting public comment on a proposed rule that would simplify and streamline compliance....more
Proposed Changes Subject to 60-Day Comment Period - On May 30, the Federal Reserve Board of Governors voted unanimously in favor of a proposal to amend section 13 of the Bank Holding Company Act (Volcker Rule), which was...more
On May 30, the Federal Reserve issued a proposal (the “Proposed Regulations”) to revamp regulations implementing the Volcker Rule, a centerpiece of the Dodd-Frank Act. ...more
On August 2, the Office of the Comptroller of the Currency (OCC) issued a notice (the OCC Notice) seeking public comments over the next 45 days to assist in determining how the final rule implementing Section 13 of the Bank...more
The U.S. Department of the Treasury previously issued its first in a series of reports to President Donald J. Trump examining the United States’ financial regulatory system. The report included detailed recommendations...more
Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more
It’s still in the early days of 2014. I think it’s finally stopped snowing in the East, the sun has come out and the stock market is continuing to outperform the woe purveyors. Republicans and Democrats have gotten...more
More than three years following the passage of the Dodd-Frank Act, and intense inter-agency negotiations, the federal financial regulatory agencies collectively adopted the final version of the “Volcker Rule,” or “Rule”—which...more
On December 10, 2013, the Board of Governors of the Federal Reserve System, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Securities Exchange...more
On January 14, the Fed, CFTC, FDIC, OCC and SEC issued an interim final rule which will permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities...more