Five US regulatory agencies have announced the modification of the Volcker Rule. Changes will contain specific exclusions and clarifications that can be of benefit to foreign and domestic banks.
The Volcker Rule, introduced in 2013 , forbids banking entities from engaging in proprietary trading and from acquiring or retaining ownership interests in a hedge or private equity fund (known as covered funds). The final version of the Rule will undergo alterations in three areas that include streamlining the covered funds section, addressing the extraterritorial treatment of foreign funds, and permitting banking entities to offer financial services and engage in other activities that will no
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