Volcker Rule FAQs updated

The Federal Reserve Board has posted an update of the frequently asked questions regarding the Volcker Rule. The rule generally prohibits insured depository institutions and any company affiliated with an insured depository institution from engaging in proprietary trading and from acquiring or retaining ownership interests in, sponsoring, or having certain relationships with a hedge fund or private equity fund. These prohibitions are subject to a number of statutory exemptions, restrictions, and definitions.