On June 25, the five regulators responsible for Section 13 of the Bank Holding Company Act of 1956 (Volcker Rule) approved a set of amendments that modify and clarify the covered fund provisions of the regulations implementing the Volcker Rule. (The five regulators are the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, and the Securities and Exchange Commission.) The final amendments are generally the same as those proposed in January of this year.
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Bank Holding Company Act
Volcker Rule Regulators Propose Changes to Covered Fund Rules
By Guy C. Dempsey Jr. on
Posted in Banking
On January 30, the five regulators responsible for Section 13 of the Bank Holding Company Act of 1956 (the “Volcker Rule”) each approved a set of amendments intended to modify and clarify the covered fund provisions of the regulations implementing the Volcker Rule. (The five regulators are the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission and the Securities and Exchange Commission.)
Continue Reading Volcker Rule Regulators Propose Changes to Covered Fund Rules
Federal Reserve Proposes Revamped Standards for Determinations of Bank Control
By Guy C. Dempsey Jr. on
Posted in Banking
On April 23, the Board of Governors of the Federal Reserve System proposed revisions to the portions of its regulations that relate to determinations of whether a company has the ability to exercise a controlling influence over another company for purposes of the Bank Holding Company Act or the Home Owners’ Loan Act. The highlight…