• The Volcker Rule—Application to Securitization Transactions
  • January 2, 2014
  • Law Firm: Mayer Brown LLP - Chicago Office
  • The federal financial agencies on December 10, 2013, approved joint final regulations (the “Final Regulation”) implementing section 619 of the Dodd-Frank Act, commonly referred to as the Volcker Rule. Section 619 added a new section 13 to the Bank Holding Company Act of 1956 (the “BHCA”) that generally prohibits any banking entity from engaging in proprietary trading and from acquiring or retaining an ownership interest in, sponsoring, or having certain relationships with, a hedge fund or a private equity fund, subject to exemptions for certain permitted activities.