Federal Deposit Insurance Corporation January 3, 2012 – Federal Register Recent Federal Regulation Documents

Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2011-33623
Type: Proposed Rule
Date: 2012-01-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
On November 7, 2011, the OCC, Board, FDIC, and SEC (collectively, the ``Agencies'') published in the Federal Register a joint notice of proposed rulemaking for public comment to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') which contains certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund (``proposed rule''). Due to the complexity of the issues involved and to facilitate coordination of the rulemaking among the responsible agencies as provided in section 619 of the Dodd-Frank Act, the Agencies have determined that an extension of the comment period until February 13, 2012 is appropriate. This action will allow interested persons additional time to analyze the proposed rules and prepare their comments.