Wed, Sep 30, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Proposed revisions to the Volcker rule

Tuesday, February 11, 2020

By: Lawrence Berkovich, John Hwang, Chris Jackson, Sheena Paul, Derek Poon, Nicholas Robinson, Bill Satchell, Ari Yannakogeorgos, Allen & Overy LLP

On January 30, 2019, 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 (together, the Agencies), proposed rules (the Proposed Rules) that, if adopted, would further amend the existing rule under Section 13 of the Bank Holding Company Act of 1956, as amended (the BHC Act), commonly known as the Volcker Rule.

The Volcker Rule generally prohibits a banking entity from engaging in proprietary trading and from acquiring or retaining an ownership interest in, or sponsoring or having certain relationships with, a covered fund. The Proposed Rules do not amend the definition of "covered fund," but seek to clarify and relax some of the existing prohibitions. They codify approaches already followed by the Agencies to some extent, but also modify existing exclusions and propose new exclusions that generally demonstrate the Agencies' desire to clarify and simplify compliance, to limit the Volcker Rule's extraterritorial application, and to permit market participants to undertake certain fund activities that do not present the risks that the Volcker Rule was intended to address. Notable proposals include:

The Scope Of "Ownership Int......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Tech stocks aren't in a bubble, but investors should be pickier, Credit Suisse says, Pandora tops world's best-performing market as hedge funds exit, What Bill Ackman is investing in now[more]

    Tech stocks aren't in a bubble, but investors should be pickier, Credit Suisse says From Business Insider: Credit Suisse on Thursday trimmed its overweight rating for tech stocks, recommending investors be more selective with their sector picks. Crowding in tech giants and the stocks&#

  2. Investing: Third Point buys stakes in Facebook, Alibaba in Q2, exits Sony, Allergan, Here's what investors with $3.4tn are buying during covid, An energy trader seeks profit from batteries in European markets, Hedge fund ARCM to sell $200m of Premier Oil debt[more]

    Third Point buys stakes in Facebook, Alibaba in Q2, exits Sony, Allergan Third Point LLC acquired new stakes in Facebook Inc. and Chinese e-commerce companies Alibaba Group Holding Ltd. and JD.com Inc. during the second quarter of 2020 as it divested positions in Sony Corp. and drugmaker

  3. PE/VC: Investors have bet big that you can get private equity returns in the public markets. A new study says otherwise, Aberdeen's Bonaccord teams up with CAZ to buy stakes in private markets managers, The role of private equity in economic recovery from Covid-19[more]

    Investors have bet big that you can get private equity returns in the public markets. A new study says otherwise From Institutional Investor: New research suggests private-equity-owned firms respond differently to financial distress - and that the resulting performance "cannot be replicat

  4. Opalesque TV: Meet a Swiss fund manager who hedges with a difference[more]

    B. G., Opalesque Geneva: There is a quant manager in Zurich that does things a little differently, which has helped a lot so far this year. ICON Asset Management, which was mentioned in the

  5. Franklin Templeton creates new unit with QS Investors[more]

    Laxman Pai, Opalesque Asia: Franklin Templeton will combine recently acquired QS Investors, a Legg Mason subsidiary, with Franklin Templeton Multiasset Solutions (FTMAS) business into a single consolidated unit. Effective Oct. 1, the combined business, called Franklin Templeton Investment Sol