Understanding Volcker

The federal financial regulatory agencies have agreed to publish proposed rules that implement the proprietary trading and private fund sponsorship and investment prohibitions of the Dodd-Frank Act's Volcker Rule. Several of the participating agencies have already published the proposed rules for public comment. The proposed rules can be accessed at http://www.mofo.com/files/Uploads/Images/Volcker%20Rule%20Text.pdf. In addition to applying the basic restrictions of the Volcker Rule to covered banking entities, the proposed rules would create a number of significant regulatory compliance, corporate governance and reporting obligations for affected financial institutions. Please join us for our November 21 session, at which we will review the proposed rules and the consequences for particular trading and fund activities. Topics will include: --Proprietary trading (i) What is proprietary trading? (ii) Dealing, underwriting and market-making activities (iii) Trading in exempted financial instruments (iv) Impact on derivatives, securitizations and structured finance activities (v) Permitted hedging and customer trading activities --Private equity and hedge funds (i) Scope of sponsored funds prohibitions (ii) Exempted fund activities --Impact on foreign bank trading and fund activities --Conflicts of interest and "high risk" activities --Compliance, governance and reporting requirements Speakers: Lukas Becker, IFLR Oliver Ireland - Morrison & Foerster, Washington, DC Charles Horn - Morrison & Foerster, Washington, DC