Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
|Agency:||FDIC, Federal Reserve, OCC|
The OCC, Board, FDIC, SEC, and CFTC are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act. Section 13 contains certain restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. These final amendments are intended to provide banking entities with clarity about what activities are prohibited and to improve supervision and implementation of section 13.
|Date proposed:||July 17, 2018|
|Comments due date:||
|Final rule effective date:||Effective beginning Jan. 1, 2020; compliance required by Jan. 1, 2021.|
|Rule compliance date:|
|Related Reg Report item(s):||