On April 2nd, a group of five federal financial regulatory agencies announced that they will consider comments submitted before May 1, 2020 on the proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds. These funds are generally known as “covered funds.”
This extension in the public comment period should provide interested persons more time to analyze the issues and prepare their comments in light of potential disruptions resulting from the coronavirus. The proposal previously asked for comments to be submitted by April 1, 2020. The agencies will continue to work together on policy issues as the coronavirus pandemic unfolds.
For more information, please see the list of agency contacts below:
| Commodities Futures Trading Commission |
Office of Public Affairs |
(202) 418-5080 |
| Federal Reserve |
Eric Kollig |
(202) 452-2955 |
| Federal Deposit Insurance Corporation |
David Barr |
(202) 898-6992 |
| Office of the Comptroller of Currency |
Bryan Hubbard |
(202) 649-6870 |
| Securities and Exchange Commission |
Office of Public Affairs |
(202) 551-4120 |
Sources:
Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period (www.sec.gov)
Agencies Propose Modifications to "Covered Funds" Restrictions of Volcker Rule (www.novaworkssoftware.com)
