News & Analysis as of September 20, 2024

Volcker Rule › Financial Institutions

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The Volcker Rule is a rule limiting certain financial institutions' ability to own, invest or sponsor hedge funds, private equity or other proprietary trading operations. The Rule seeks to separate financial... more +

The Volcker Rule is a rule limiting certain financial institutions' ability to own, invest or sponsor hedge funds, private equity or other proprietary trading operations. The Rule seeks to separate financial institutions' proprietary trading activity from consumers' FDIC- insured deposits. The Volcker Rule is a part of the broader Dodd-Frank Wall Street Reform and Consumer Protection Act and aims to diminish potential conflicts of interest between banks and consumer clients. less -

Immigration Reform: The Federal Reserve should adopt the 2019 Volcker Rule revisions as the standard for how foreign banks can...

White & Case LLP on 8/29/2022

The Board of Governors of the Federal Reserve (the "Federal Reserve") has over several decades defined when an activity engaged in by foreign banks subject to the Bank Holding Company Act of 1956 (the "BHCA"), which are thus...more

Financial Services Report – Fall 2020

Morrison & Foerster LLP on 10/16/2020

We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more

Community Development Financial Institutions – Opportunities for Managers of Loan Funds and Venture Capital Funds

Dechert LLP on 10/9/2020

Community Development Financial Institution (CDFI) certification is awarded to “community-based organizations that seek to expand economic opportunity in low-income communities and provide financial products and services to...more

Volcker Rule Covered Fund Amendments Provide Clarity and Opportunities

Jones Day on 7/15/2020

The Situation: The Federal Reserve, Office of the Comptroller of the Currency ("OCC"), Federal Deposit Insurance Corporation ("FDIC"), Securities and Exchange Commission ("SEC"), and Commodity Futures Trading Commission...more

US Federal Banking Agencies Introduce Further Measures to Address Continuing COVID-19-Related Risks

Latham & Watkins LLP on 4/10/2020

The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic. The three US federal banking agencies - the Board of Governors of the...more

Nutter Bank Report: February 2020

Nutter McClennen & Fish LLP on 2/27/2020

Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more

US Agencies Proposed Revisions to Volcker Rule Covered Funds Provisions

Mayer Brown Free Writings + Perspectives on 2/13/2020

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

Proposed Changes to the Volcker Rule

Polsinelli on 2/6/2020

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

Volcker Rule Proposal: The Covered Funds Shoe Starts to Drop

Morgan Lewis on 2/5/2020

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

Protecting Your Investment: Insights For 2020

Morgan Lewis on 2/3/2020

Investors and investment managers around the globe are seeing increasing rules and regulations on how they can deploy their money, how they can advertise their services, and how they have to report to regulators. ...more

Description Of The Small Business Investment Company Program Participation By Unleveraged Funds - January 2020

Troutman Pepper on 1/14/2020

A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

Bridging The Week - September 2019 #3

Katten Muchin Rosenman LLP on 9/24/2019

The Department of Justice raised the stakes in spoofing enforcement actions by including racketeering charges in an indictment filed last week alleging spoofing by three traders over many years. The Commodity Futures Trading...more

Volcker Rule Relief for Foreign Banking Entities

Morrison & Foerster LLP on 9/4/2019

On August 20, 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the Bank...more

Nutter Bank Report: August 2019

Nutter McClennen & Fish LLP on 9/3/2019

Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more

Amendments to Volcker Rule Regulations

Morrison & Foerster LLP on 8/27/2019

On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the...more

Volcker 2.0

Cadwalader, Wickersham & Taft LLP on 8/26/2019

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

Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule

Stinson - Corporate & Securities Law Blog on 7/11/2019

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

Dodd-Frank Rollback Benefits Insurers

Carlton Fields on 10/4/2018

Marketing Private Life Insurance Separate Accounts to Smaller Banks - Subject to certain exceptions, the so-called “Volcker rule” provisions of the Dodd-Frank Act and regulations thereunder (collectively, the Volcker Rule)...more

Dodd-Frank Law Loosened by the House; Volcker Rule Changes Proposed by the Fed

Baker Donelson on 6/22/2018

On May 22, by a vote of 258-159, the House approved a Senate-passed bill to free thousands of small and medium-sized banks from strict rules that had been enacted in 2010 as part of the Dodd-Frank law intended to prevent...more

Bank Regulators Set Priorities at the Prudential Regulation Conference

Moore & Van Allen PLLC on 6/21/2018

Financial Regulatory Advice and Response Team members Neil Bloomfield, Ed O’Keefe, Tom Pennington, and Kris Whittaker attended the Prudential Regulation Conference presented by SIFMA and The Clearing House in Washington, D.C....more

Agencies Propose Amendment to, and Seek Comment on, Regulations Implementing the Volcker Rule

Morrison & Foerster LLP on 6/20/2018

On May 30, 2018, the Board of Governors of the Federal Reserve System (“Federal Reserve”) issued a proposal (the “Proposed Rule”) to amend the rules implementing Section 13 of the Bank Holding Company Act of 1956 (the...more

Volcker 2.0: Agencies Propose to Reduce Regulatory Burdens Imposed by the Volcker Regulations

Dechert LLP on 6/15/2018

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

Regulatory Relief Act Benefits Community and Regional Banks

Holland & Knight LLP on 6/13/2018

• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more

President Trump Signs the First Major Financial Services Deregulation Law in a Decade

Jones Day on 6/11/2018

President Trump has signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act ("Act"), with the principal goals of promoting U.S. economic growth, recalibrating burdensome rules, and strengthening...more

Financial Services Weekly News - June 2018

Goodwin on 6/7/2018

Editor's Note - Proposed Volcker Rule Amendments Reduce Burden on Community Banks and Banks With Limited Trading Activities. Last week and earlier this week, all five federal financial regulators with jurisdiction over the...more

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