The Federal Reserve Board (“Fed”), Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Securities and Exchange Commission (collectively, the “Agencies”) released a proposed rule that would implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), which added a new Section 13 to the Bank Holding Company Act (“BHC Act”) to impose certain prohibitions and restrictions on the ability of banking entities (insured depository institutions, bank holding companies (“BHCs”), and their subsidiaries and affiliates) and nonbank financial companies supervised by the Fed to engage in proprietary trading and to have certain interests in, or relationships with, a hedge fund or private equity fund.