Securities and Exchange Commission February 8, 2019 – Federal Register Recent Federal Regulation Documents

Special Opportunities Fund, Inc. and Bulldog Investors, LLC
Document Number: 2019-01531
Type: Notice
Date: 2019-02-08
Agency: Securities and Exchange Commission, Agencies and Commissions
Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2019-00797
Type: Proposed Rule
Date: 2019-02-08
Agency: Commodity Futures Trading Commission, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Securities and Exchange Commission, Department of Treasury, Office of the Comptroller of the Currency
The OCC, Board, FDIC, SEC, and CFTC (individually, an Agency, and collectively, the Agencies) are inviting comment on a proposal to amend the regulations implementing the Bank Holding Company Act's (BHC Act) prohibitions and restrictions on proprietary trading and certain interests in, and relationships with, hedge funds and private equity funds in a manner consistent with the statutory amendments made pursuant to certain sections of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The statutory amendments exclude from these restrictions certain firms that have total consolidated assets equal to $10 billion or less and total trading assets and liabilities equal to five percent or less of total consolidated assets and amend the restrictions applicable to the naming of a hedge fund or private equity fund to permit an investment adviser that is a banking entity to share a name with the fund under certain circumstances.