The Fed is streamlining part of its Volcker compliance regulations, providing guidelines to banks seeking more time to start up and spin off new hedge funds and private equity funds. The new guidelines detail how banks could apply for an extension for more time to complete a seeding investment in a hedge fund or private equity fund, before selling off its ownership as mandated by Volcker. It would be allowing its 12 regional banks to approve those extension requests in most cases.
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