Understanding The Federal Reserve Board's Volcker Rule
Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), commonly known as the “Volcker Rule, ” prohibits banking entities from engaging in proprietary trading in securities, derivatives, or certain other financial instruments and from investing in, sponsoring, or having certain relationships with a hedge fund or private equity fund. The Federal Reserve Board has approved the Final Rule to implement the conformance period for winding down, selling or otherwise conforming such impermissible activities, investments and relationships. The Financial Stability Oversight Council has published recommendations for implementing an effective compliance regime and the U.S. Banking agencies, the SEC and CFTC are working to publish final rules for complying with the Volcker Rule.
Banking professionals must have a complete understanding of how this new standard and the forthcoming compliance regime may impact them or face increased capital requirements, significant fines and / or , sanctions. , and penalties.
The Knowledge Group is assembling a panel of experts who will share their opinions in a two-hour webcast. They will discuss the substantive provisions of this rule as well its impact on banking and business. A live interaction with the audience in a question and answer format is also included with this event.