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Legal Briefing
The Volcker Rule: a guide to the regulations set to change the US financial system
Practice Area: Regulation and Compliance
Sector: Commercial and Retail Banking
Jurisdiction: USA
Published: 24 October 2011
Law Firm: Bingham McCutchen
Overview
The Volcker Rule has far-reaching implications for the US financial system. It prohibits any "banking entity" from proprietary trading and from owning, sponsoring or having certain relationships with hedge funds and other private funds, subject to a number of exemptions.
Implementation of the Volcker Rule requires rulemaking, and on October 11 regulators released for comment a notice of proposed rulemaking with implementing regulations. The proposal is extremely detailed and raises complex and difficult issues.
This guide to the proposed regulations is designed to highlight the major areas of the proposal, while focusing on details that are likely to impact on financial institutions.
To read the guide, click 'View Briefing'.
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