The five U.S. federal agencies (collectively, the Agencies) responsible for implementing the Volcker Rule1 have individually released, or are expected to release, a related notice of proposed rulemaking (NPR).2 The NPR proposes amendments to the Volcker Rule regulations3 that would implement two statutory changes required by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA):4
- An exclusion from all Volcker Rule restrictions for community banks and other banking organizations below certain asset size and trading thresholds.
- A modification of the name-sharing restrictions of the Volcker Rule to permit certain banking entities that are investment advisers to share a name with a covered fund, subject to certain continuing limitations.
The NPR is separate from the broader Volcker Rule revisions proposed by the Agencies in June 2018, which are still pending.5 Comments in response to the NPR must be received by the Agencies within 60 days of its publication in the Federal Register.
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