The Federal Deposit Insurance Corporation will meet on October 11, 2011 to consider proposed regulations implementing Section 619 of the Dodd-Frank Act (the “Volcker Rule”). The SEC will consider the proposed regulations on October 12th. The Volcker Rule prohibits banking entities and their affiliates from engaging in proprietary trading activities and from sponsoring and investing in private equity funds and hedge funds.
On October 5th, a draft of the proposal (not including the text of the regulation) dated September 30 appeared on the website of the American Banker. This draft provides a detailed description of the proposed regulations.
Please join Mayer Brown partner David Sahr as he provides a high-level overview of the regulations and highlight key issues in this special 30-minute session of the Global Financial Markets Initiative Teleconference Series.
Of Related Interest
The Volcker Rule: Proprietary Trading and Private Fund Restrictions
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.