Volcker Rule Comment Period Extended

April 2nd | 2020

Because of the impact of COVID-19, five federal financial regulatory agencies (the SEC, OCC, FDIC, CFTC, and Federal Reserve) today announced that they have extended the comment period to May 1, 2020, on their proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as “covered funds.” The proposal originally asked for comments to be submitted by April 1, 2020. The comments received so far suggest the proposal has been well received by various industry groups.

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