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Agencies Extend Comment Period for Proposed Rule Simplifying and Tailoring the “Volcker Rule”
On Tuesday, September 4, 2018, five federal financial regulatory agencies issued a joint press release extending until October 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the “Volcker Rule.” The Volcker Rule generally restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds.
The proposal was released by the agencies in early June with a 60-day comment period that began after publication in the Federal Register on July 17th.