• Final Volcker Rule: Update and Key Takeaways for Private Funds
  • January 15, 2014
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission, and the Commodity Futures Trading Commission (CFTC) (collectively, the Agencies) issued the final rule (Final Rule) implementing the “Volcker Rule” requirements of section 13 (section 13) of the Bank Holding Company Act (BHC Act), which were added by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Final Rule is effective April 1, 2014, but banking entities generally have until July 21, 2015, to conform their activities to the Final Rule.