Details

  • Service: Advisory, Risk Consulting, Transaction Accounting Services
  • Industry: Banking & Capital Markets
  • Type: Publication series
  • Date: 10/20/2010

Regulatory Practice Letter #10-20 

Financial Stability Oversight Council –Study of Restrictions on Proprietary Trading and Relationships with Private Funds (Volcker Rule)
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The Financial Stability Oversight Council (“Council“) published a request for comment on October 6, 2010 that seeks public input about the restrictions imposed on banking organizations by Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), which prohibits a banking entity from engaging in proprietary trading or, subject to certain exceptions and limitations, sponsoring or acquiring an ownership interest in a hedge fund or private equity fund