On July 17, 2018, the U.S. Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Securities and Exchange Commission and Commodity Futures Trading Commission published their previously announced notice of proposed rulemaking entitled Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships with, Hedge Funds and Private Equity Funds in the Federal Register. The proposed rules seek to simplify and tailor the Volcker Rule. Comments to the proposal are due by September 17, 2018.
For a more comprehensive discussion of the proposed changes to the Volcker Rule, you may wish to refer to our client publication: "Volcker Rule 2.0: First Major Rule Revisions Proposed" available at: https://www.shearman.com/perspectives/2018/06/volcker-rule-2-first-major-rule-revisions-proposed.
The full text of the proposal is available at: https://www.gpo.gov/fdsys/pkg/FR-2018-07-17/pdf/2018-13502.pdf.
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.
