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
Legal Update: Volcker Rule Revisions Adopted by Agencies
The US federal banking and functional regulators (“Agencies”) have finalized revisions to the proprietary trading and compliance program provisions of the Volcker Rule, which implement some, though not all, of the changes that had been proposed by the Agencies in a May 2018 notice of proposed rulemaking. This Legal Update discusses the revisions.