Free web seminar: Understanding Volcker

Author: | Published: 22 Nov 2011
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In yesterday's FREE web seminar, Oliver Ireland and Charles Horn of Morrison & Foerster's Washington, DC office and Lukas Becker of IFLR reviewed the proposed Volcker rule and its consequences for particular trading and fund activities.

The federal financial regulatory agencies have agreed to publish proposed rules that implement the proprietary trading and private fund
sponsorship and investment prohibitions of the Dodd-Frank Act's Volcker Rule. Several of the participating agencies have already published the proposed rules for public comment.

In addition to applying the basic restrictions of the Volcker Rule to covered banking entities, the proposed rules would create a number of
significant regulatory compliance, corporate governance and reporting obligations for affected financial institutions.

Topics from yesterday's web seminar included:

Proprietary trading
(i) What is proprietary trading?
(ii) Dealing, underwriting and market-making activities
(iii) Trading in exempted financial instruments
(iv) Impact on derivatives, securitisations and structured finance activities
(v) Permitted hedging and customer trading activities

Private equity and hedge funds
(i) Scope of sponsored funds prohibitions
(ii) Exempted fund activities

Impact on foreign bank trading and fund activities

Conflicts of interest and high risk activities

Compliance, governance and reporting requirements

The seminar was the latest in a series run by IFLR. Next up is a look at the how the Independent Commission on Banking report will affect UK banking on December 12. Sign up to IFLR's free web seminar channel to listen in.