Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Date: 1/7/2014

Regulatory Practice Letter #13-21 

The Federal Reserve Board, FDIC, OCC, SEC, and CFTC(collectively, the Agencies) adopted final rules implementing Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is commonly referred to as the Volcker Rule, on December 10, 2013.
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The Volcker Rule provides a number of exemptions for certain activities, including market making, underwriting, risk-mitigating hedging, trading in certain government obligations, and organizing and offering a hedge fund or private equity fund, among others.  Activities that occur solely outside of the U.S. and insurance company activities are also permitted.