• FSOC Study on Implementing the Volcker Rule — A Series of Missed Opportunities and Some Surprises
  • January 26, 2011
  • Law Firm: Shearman Sterling LLP - New York Office
  • On January 18, 2011, the Financial Stability Oversight Council (“FSOC”) issued its long-awaited report on a key provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act known as the “Volcker Rule,” which generally prohibits banking entities from engaging in proprietary trading and from investing in or sponsoring hedge funds and private equity funds. The Act required that the FSOC conduct a study on how the Volcker Rule could best be implemented by the five federal regulatory agencies that are required to adopt rules to implement the Volcker Rule, which must be issued in final form within nine months of the Study’s publication, or October 18, 2011.