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SEC adopts final rule implementing the Volcker Rule

  • SEC (US Securities and Exchange Commission) Image

Dec 10, 2013

Today, the SEC and four other federal agencies (the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Commodity Futures Trading Commission) jointly issued a final rule to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”).

The final rule prohibits insured depository institutions and companies affiliated with insured depository institutions (“banking entities”) from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures, and options on these instruments for their own account. The final rule also imposes limits on banking entities’ investments in — and other relationships with — hedge funds or private equity funds.

The compliance requirements under the final rule vary on the basis of the size of the banking entity and the scope of activities conducted.

More information is available in Deloitte's Accounting Journal Entry and on the SEC's Web site:

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.