SEC, CFTC and Federal Reserve Approve Volcker Amendments
The SEC, CFTC and Federal Reserve each adopted amendments to the regulations implementing the Volcker Rule (i.e., Section 619 of Dodd-Frank). The amendments had been previously approved by the FDIC and OCC.
The amendments are generally consistent with the Federal Reserve 2018 proposal (see previous coverage).
The final rule will be effective as of January 1, 2020, and compliance will be required as of January 1, 2021.
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