Comments due on proposed modifications to Volcker Rule
A joint press release on January 30, 2020, from the Federal Reserve Board, FDIC, OCC, SEC, and the Commodity Futures Trading Commission announces the agencies are inviting public comment on a proposal to modify regulations implementing the Volcker Rule's general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as "covered funds." The proposal would modify the restrictions for banking entities investing in, sponsoring, or having certain relationships with covered funds. Comments will be accepted through April 1, 2020.
UPDATE: The OCC has announced that the Fed, CFTC, FDIC, OCC, and SEC have extended the comment period on their proposal to modify the Volcker Rule's general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds ("covered funds") from April 1 to May 1, 2020.