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Key highlights of the Volcker Rule proposal

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Jun 06, 2018

On June 6, 2018, the Deloitte Center for Regulatory Strategy Americas released posted a blog on the notice of proposed rulemaking (the “proposal”) approved by the Federal Reserve Board to amend the regulations implementing the Volcker Rule, a centerpiece of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The proposal aims to simplify and tailor the compliance requirements of the Rule, which was finalized back in December 2013 to prevent banks from engaging in proprietary trading and from owning hedge funds or private equity funds.

Among other changes, this proposal intends to:

  • Create categories of banking entities based on the size of their trading assets and liabilities
  • Tailor compliance requirements based on a banking entity’s level of trading activity
  • Modify the term “trading account” in the Rule
  • Modify or remove select compliance requirements specific to certain proprietary trading and covered funds exemptions
  • Create a presumption of compliance with the underwriting and market-making exemptions for certain trading desks whose activities fall within certain internal risk limits
  • Modify certain requirements related to metrics reporting and streamline the related data collection process

Review the blog on the Center for Regulatory Strategy Americas' website.

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