News & Analysis as of September 23, 2024

Volcker Rule › Financial Regulatory Reform

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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 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 -

Structured Finance Bulletin - Winter 2020

Mayer Brown on 12/9/2020

The implications of the 2020 election for structured finance are coming into focus. Informed by our discussions in Washington, we can anticipate the likely direction of federal policy over the next two years that will impact...more

Volcker Rule Amendments: An Early Assessment of Interpretive Issues, Business Impact, and Market Opportunities

Morgan Lewis on 8/14/2020

Recently published amendments to the Volcker Rule — effective October 1, 2020—could have significant market impact for affected stakeholders, and will liberalize certain key aspects of the Volcker Rule’s regulations and quell...more

Volcker Rule Amendments: Implications for Asset Managers

Proskauer Rose LLP on 7/16/2020

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

Volcker Rule Covered Fund Amendments: What They Will and Will Not Do for CLOs

Jones Day on 7/15/2020

The Situation: The regulatory agencies responsible for administering the Volcker Rule have amended the covered fund provisions of the rule. The Result: Modifications to the definitions of "ownership interest" and "loan...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

Volcker Rule Changes Adopted, Lifting Certain Compliance Burdens for Covered Funds

Morgan Lewis - All Things FinReg on 6/30/2020

The US federal financial regulatory agencies with responsibility for implementing and enforcing Section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule, have finalized amendments to the “covered fund”...more

Volcker 3.0: The Agencies Relax the Volcker Rule Requirements for Securitizations and Foreign Funds and Grant New Exemptions from...

Cadwalader, Wickersham & Taft LLP on 6/29/2020

On Thursday, June 25, 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...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

Covered Funds May Cover Less

King & Spalding on 2/11/2020

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

Rolling Back the Impact of the Volcker Rule on CLOs

Orrick, Herrington & Sutcliffe LLP on 2/6/2020

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

Volcker 3.0: The Agencies Propose Relief for Securitizations and Foreign Funds and New Exemptions from the Volcker Rule’s Covered...

Cadwalader, Wickersham & Taft LLP on 2/6/2020

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

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

Potential Volcker Rule Changes Announced

Mayer Brown on 2/4/2020

On January 30, 2020, five federal financial regulatory agencies published the long awaited notice of proposed rulemaking (the “NPR”) to revise certain aspects of the Volcker Rule (Section 13 of the Bank Holding Company Act)...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

Financial Daily Dose 1.31.2020 | Top Story: IBM CEO Ginni Rometty is Out After Eight Years at the Helm

Robins Kaplan LLP on 1/31/2020

In a week that’s already seen plenty of C-suite shakeups, we’ve learned that Ginni Rometty is stepping down from her role as CEO at IBM. The company’s cloud computing chief, Arvind Krishna, will take over for her, though...more

Federal Banking Regulators Sign Off on Volcker Rule 2.0

Seyfarth Shaw LLP on 10/16/2019

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

Financial Daily Dose 10.9.2019 | Top Story: Chair Powell says Fed will Expand its Treasury Securities Holdings

Robins Kaplan LLP on 10/9/2019

Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy...more

Financial Daily Dose 9.19.2019 | Top Story: Fed Cuts Rates Another Quarter percent

Robins Kaplan LLP on 9/19/2019

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

Financial Daily Dose 9.17.2019 | Top Story: WeWork to Delay Planned IPO Until at Least October

Robins Kaplan LLP on 9/17/2019

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

Federal Agencies Announce Reforms to Volcker Rule

Kramer Levin Naftalis & Frankel LLP on 9/4/2019

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

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

Financial Daily Dose 8.21.2019 | Top Story: Fed “Tailoring” to Weaken Big Bank Capital Requirements

Robins Kaplan LLP on 8/21/2019

Beyond the revamped Volcker Rule we discussed yesterday, Federal Reserve officials are “slowly, but steadily,” making a series of regulatory changes likely to weaken “capital requirements installed in the wake of the [2008...more

Financial Daily Dose 8.20.2019 | Top Story: Top Execs Signal Shift in Corporate Priorities Beyond Just Shareholder Gain

Robins Kaplan LLP on 8/20/2019

A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the...more

Financial Daily Dose 8.13.2019 | Top Story: Global Volatility Sends Bonds Yields to Near-Record Lows

Robins Kaplan LLP on 8/13/2019

A volatile August on Wall Street has insiders asking whether we should be taking our cues from 1998 or 2007. With that in mind, our financial term of the week is “countercyclical capital buffer,” a wonkish special for you...more

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Volcker Rule › Financial Regulatory Reform

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