On January 30, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading Commission proposed revisions to the covered funds provisions of the Volcker Rule. The proposal is intended to address the prohibitions and restrictions regarding covered fund activities in the same way that these agencies’ August 2019 rulemaking primarily focused on the Volcker Rule’s restrictions on proprietary trading. This Legal Update summarizes the proposed revisions.

Read our Legal Update here.