Federal Reserve Formally Announces Extension of Conformance Period for Volcker Rule

Last Thursday, July 7th, the Federal Reserve formally announced an extension of the conformance period for the Volcker Rule until July 21, 2017 “for banking entities to divest ownership in certain legacy investment funds and terminate relationships with funds that are prohibited under the  rule.” In December of 2014, the Fed said that it would make this extension to “provide for orderly divestitures and to prevent market disruptions.” This is the final of the three 1-year extensions that the agency is authorized to grant.

If you would like to join SFIG’s Volcker Task Force, please contact Alyssa.Acevedo@sfindustry.org.

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