On August 20, 2019, two of the agencies responsible for implementing the Volcker Rule finalized amendments to the Rule that narrow and simplify the proprietary trading prohibition and significantly reduce compliance burdens.
The Final Rule includes only limited revisions to the covered fund provisions, deferring to a forthcoming notice of proposed rulemaking all of the significant covered fund issues that had been the subject of questions in the Agencies’ 2018 proposal. This linked alert memorandum offers in-depth analysis of the Final Rule, building on our initial key takeaways available here.
Please click here to read the full alert memorandum.