Finalized Volcker Rule Amendments: Regulatory and Compliance Issues Explored
In fall of 2019, a final rule to amend the "Volcker Rule" was approved by the Federal Reserve Board and other agencies charged with implementing the Volcker Rule. In January 2020, the agencies proposed further revisions to the covered funds provisions of the Volcker Rule, requesting comment by April 1, 2020.
As highlights of the new provisions follow, regulatory and compliance issues concerning the rule are expected to arise. Thus, it is imperative for banking entities to be in the know of significant changes and proposed revisions.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the recent developments of the Volcker Rule amendments. Speakers will also present key issues and provisions surrounding this topic along with the best compliance strategies.
Key topics include:
- Volcker Rule Final and Proposed Revisions – Proprietary Trading and Covered Funds
- Implications for U.S. and Non-U.S. Banking Entities
- Regulatory and Compliance Issues
- Best Compliance Strategies
Alison M. Hashmall, Counsel
Debevoise & Plimpton LLP
- Revisions to covered fund exclusions:
- Long term investment funds
- Credit funds
- Family wealth management vehicles
- Foreign public funds
- Super 23A revisions
- Final rule changes to underwriting/market making and risk-mitigating hedging covered fund exemptions
Jiang Liu, Partner
- Volcker Rule’s impact on foreign banking organizations
Andrew R. Bernstein, Senior Special Counsel, Division of Trading and Markets
U.S. Securities and Exchange Commission
- Amendments to the Definition of “Trading Account”
- Amendments to the Exemptions for Underwriting and Market Making-Related Activities
- Other Compliance Issues
- CEO Attestation
- EGRRCPA Amendments
Who Should Attend:
- Banking Institutions
- Banking & Finance Lawyers
- Banking Executives
- Financial Reporting Managers
- Fund Managers
- Investment Advisers
- In-house Counsel
Jiang’s practice spans a broad range of bank regulatory work, and he has significant experience representing global financial institutions.
Jiang has deep knowledge of the regulations applicable to U.S. and global financial institutions. He regularly provides advice in connection with the Bank Holding Company Act, the Volcker Rule, bank securities activities, and U.S. bank and non-bank acquisitions, among other things. He has a substantial practice representing global financial institutions, especially those in China, related to their U.S. activities.
Prior to joining Morrison & Foerster, Jiang worked at a leading international law firm in their Hong Kong and New York offices.
Jiang’s practice spans a broad range of bank regulatory work, and he has significant experience representing global financial institutions. Jiang …
Mark Sobin is an associate in the Financial Services Practice Group of Morrison & Foerster’s New York office.
Mr. Sobin graduated cum laude from Duke University School of Law, where he was a member of the Duke Law Journal’s Editorial Board. During law school, Mr. Sobin was a judicial intern for the Honorable Alexander Williams Jr. in the U.S. District Court for the District of Maryland, as well as an intern at the White House’s National Economic Council. Mr. Sobin received his B.A. from Washington University in St. Louis.
Prior to joining Morrison & Foerster, Mr. Sobin was an associate at another multinational law firm.
Mark Sobin is an associate in the Financial Services Practice Group of Morrison & Foerster’s New York office. Mr. Sobin …
Andrew R. Bernstein is a Senior Special Counsel in the Office of Derivatives Policy in the Division of Trading and Markets, where he works on drafting new rules necessary to implement the OTC derivatives reforms in Title VII of the Dodd Frank Act. He also plays a leading role on the cross-divisional and interagency teams responsible for the Volcker Rule. In addition, Andrew provides interpretive advice on the regulatory treatment of novel derivatives products under the Securities Exchange Act of 1934, and administering new product provisions contained in the Dodd-Frank Act.
Prior to joining the SEC in 2010, Andrew practiced securities and corporate law at Sullivan & Cromwell LLP. Andrew received a Bachelor of Science from the College of Agriculture and Life Science at Cornell University, and a Juris Doctor, magna cum laude, from American University Washington College of Law.
Andrew R. Bernstein is a Senior Special Counsel in the Office of Derivatives Policy in the Division of Trading and …
Alison M. Hashmall is a member of Debevoise & Plimpton’s Financial Institutions and Banking Groups. Her practice focuses on advising domestic and non-U.S. banking organizations and other financial institutions on a wide range of bank regulatory, policy and transactional matters. Ms. Hashmall specializes in matters relating to financial regulatory reform, including the Volcker Rule, total loss-absorbing capacity (TLAC), single-point of entry resolution strategies and the preparation of living wills. She has represented industry trade groups in connection with advocacy efforts on regulatory and legislative proposals, and she has assisted clients in the policymaking process before federal regulators. Ms. Hashmall received her J.D. magna cum laude from New York University School of Law, where she was a member of the Order of the Coif, a notes editor for the New York University Law Review, a Pomeroy Scholar and a Butler Scholar.
Alison M. Hashmall is a member of Debevoise & Plimpton’s Financial Institutions and Banking Groups. Her practice focuses on advising …
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Method of Presentation:
General knowledge of banking laws and regulations
NY Category of CLE Credit:
Areas of Professional Practice
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Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. More than 800 Debevoise lawyers in nine offices across three continents work within our integrated practices to serve our clients, who look to us to bring a distinctively high degree of quality, intensity and creativity to resolve legal challenges effectively and cost efficiently. The firm’s Financial Institutions Group provides peerless regulatory, transactional, compliance, litigation and enforcement advice to an array of financial institutions throughout the world. A seamless, integrated global team takes a tailored approach to clients’ business, financial and legal needs to assist them in reaching their goals. Debevoise is continuously recognized for its commitment to serving its clients through excellence in lawyering. Recently, they were once again named to The American Lawyer’s 2019 “A-List,” a list that Debevoise has been on every year since it was created.