USA. Federal Reserve clarification of Volcker Rule conformance period

 

By EDUARDO BRAVO LOSADA, CPA

 

 

The Board of Governors of the Federal Reserve System has announced that banking entities subject to Section 13 of the Bank Holding Company Act of 1956 (known as the 'Volcker Rule') will have the full two-year period provided by statute to conform with the Volcker Rule's restrictions on proprietary trading and investment in and sponsorship of covered funds.

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