Thursday, November 15, 2018

Comment time extended for Volcker rule

Five federal financial regulatory agencies extended until Oct. 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the “Volcker rule.”

The Volcker rule generally restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds.

With the extension, the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission will have provided interested parties with approximately four and a half months from the date the proposal was released to the public to submit comments.

The proposal was released by the agencies in early June with a 60-day comment period that began after publication in the Federal Register on July 17. Comments can be emailed to comments@fdic.gov.