Final Rule
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Overview
The OCC, Board, FDIC, SEC, and CFTC (together, the agencies) are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act (BHC Act). Section 13 contains certain restrictions on the ability of a banking entity or nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund (covered funds). These final amendments are intended to improve and streamline the regulations implementing section 13 of the BHC Act by modifying and clarifying requirements related to the covered fund provisions of the rules.
Prior Actions
Proposed Rule (BHCA-8)
Release Number
BHCA-8
SEC Issue Date
Jan. 30, 2020
Federal Register Publish Date
Feb. 28, 2020
Document Citation
85 FR 12120
RIN
1557-AE67, 3038-AE93, 3064-AF17, 3235-AM70, 7100-AF70
Resources
Details
File Number
S7-02-20
Rule Type
Final
Release Number
BHCA-9
SEC Issue Date
June 25, 2020
Effective Date
October 1, 2020
Federal Register Publish Date
July 31, 2020
Document Citation
85 FR 46422
RIN
1557-AE67, 3038-AE93, 3064-AF17, 3235-AM70, 7100-AF70