On August 20, 2019, the Federal Deposit Insurance Corporation
and the Office of the Comptroller of the Currency approved a Final
Rule adopting key changes to the proprietary trading and compliance
program provisions of the Volcker Rule implementing
regulations.
The agencies also finalized revisions to certain covered fund
requirements for which language was proposed in 2018.
However, key elements of the covered funds provisions will be
addressed in a new separate proposal to be issued by the Volcker
Rule agencies. The three other Volcker Rule implementing
agencies have not yet acted on the Rule.
The effective date of the Final Rule is January 1, 2020, with
compliance required by January 1, 2021. Banking entities may
elect to apply any rule change sooner, in whole or in part.
