Volcker Rule

Overview

Regulation VV (“Proprietary Trading and Relationships with Covered Funds”) implements Section 13 of the Bank Holding Company Act, more commonly known as the Volcker Rule. Regulation VV generally restricts banking entities, including state member banks and bank holding companies, from engaging in particular forms of proprietary trading and prohibits certain investments in, or relationships with covered funds. Regulation VV also permits certain underwriting and market making-related activities, as well as risk-mitigating hedging activities in relation to a banking entity’s proprietary trading, and details the Volcker Rule’s compliance program requirements for relevant banking entities.

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Adopting and Amending Legislation

Statutory Provision

    • BHCA Section 13 (Restrictions on proprietary trading and on certain relationships with hedge funds and private equity funds)

    Implementing Rules