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within Intellectual Property, Food, Drugs, Healthcare, Life Sciences and Strategy topic(s)
The Board of Governors of the Federal Reserve System
("FRB") issued a proposal aimed at simplifying and tailoring
compliance with the
Volcker Rule. It is the first major overhaul of the Volcker
Rule since regulations were adopted in late 2013.
The proposal, which remains subject to public comment, was
developed in coordination with the Office of the Comptroller of the
Currency, the FDIC, the SEC and the CFTC. In a statement, FRB Vice
Chair for Supervision Randal K. Quarles called the proposal a "best first
effort at simplifying and tailoring the Volcker rule," noting
that it does not represent the "completion of [the FRB's]
work."
A detailed analysis of the proposal will be available
shortly.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
