Federal Reserve System February 14, 2011 – Federal Register Recent Federal Regulation Documents

Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-3213
Type: Notice
Date: 2011-02-14
Agency: Federal Reserve System, Agencies and Commissions
Conformance Period for Entities Engaged in Prohibited Proprietary Trading or Private Equity Fund or Hedge Fund Activities
Document Number: 2011-3199
Type: Rule
Date: 2011-02-14
Agency: Federal Reserve System, Agencies and Commissions
The Board is adopting a final rule to implement the conformance period during which banking entities and nonbank financial companies supervised by the Board must bring their activities and investments into compliance with the prohibitions and restrictions on proprietary trading and relationships with hedge funds and private equity funds imposed by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). Section 619 is commonly referred to as the ``Volcker Rule.'' The final rule is similar to the proposal issued for comment in November 2010. The Board, however, has incorporated a number of changes to the final rule to address issues raised by public commenters, to reduce potential regulatory burdens, and to clarify application of the rule.