The Volcker Rule

Presented by

IFLR, Morrison & Foerster, Bank of America Merrill Lynch

About this talk

On December 10 2013, the five US bank regulators issued the long-awaited final rule construing the Volcker Rule. This rule generally prohibits banking entities – a broad term that includes banks, bank holding companies, foreign banks treated as bank holding companies, and their respective affiliates – from (i) engaging in proprietary trading, and (ii) acquiring or retaining ownership interests in, or acting as sponsors to, certain hedge funds and private equity funds. The final rule incorporates significant changes to the proposed rule, published on November 7 2011, which were made in response to the large number of comments received on the original proposal. This webcast is will summarise certain impacts of the final rule on banking institutions, including foreign banking organisations. We shall address aspects of the final rule, including: • the exemption for proprietary trading • limitations on permitted trading and fund activities • fund investment and sponsorship • impact on foreign banking organisations • definition of a covered fund • impact on securitisations • compliance programmes • conformance period Speakers are: • Henry M Fields, Morrison & Foerster • Oliver I Ireland, Morrison & Foerster • Kenneth E Kohler, Morrison & Foerster • Daniel A Nathan, Morrison & Foerster • Gary Rosenblum, Bank of America Merrill Lynch • Danielle Myles, IFLR (moderator) New York and California CLE credit will be offered for this webinar

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