The Volcker Rule was enacted into law as Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”).
The Volcker Rule generally prohibits banking entities1 and their affiliates from engaging in proprietary trading and acquiring or retaining any equity, partnership, or other ownership interest in a “covered fund.”
The ban on investing in and owning “covered funds” exempts certain types of funds, under specified conditions, and permits de minimis investment in any such funds.
Click Here for an update on how Volcker Rule FAQ #13 And Other Related Developments As They Apply To Foreign Funds
Courtesy of Pepper Hamilton LLC – A member of the EACCNY