Difference between revisions of "Volcker Rule - CFTC - Comment Letter - Institute of International Bankers - February 13, 2012"

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Latest revision as of 22:09, 14 July 2015

Dodd-Frank Timeline, "Volcker Rule," CFTC
Proposal Date Comment Deadline Final Rule Released
February 14, 2012 April 16, 2012 December 10, 2013

Volcker Rule - CFTC
February 13, 2012

IIB urges the Agencies to “issue a new proposed rule after considering comments on this proposal, and to revise the conformance rules to provide adequate time after issuance of a Final Rule for banks to conform their activities in an orderly manner, minimizing negative impacts on customers, the markets and banking entities.” In particular, IIB comments on the following:

  • Activities Conducted “Solely Outside of the United States”
  • Implementation of a Final Rule and the Statutory Conformance Period
  • The Non-U.S. Fund Provisions’ Prohibition on Sales to U.S. Investors
  • Exclusion of Regulated Foreign Investment Companies and Mutual Funds
  • Securitization Vehicles
  • Limiting the Application of the 23A Prohibition Outside the United States
  • Exemption for Trading in Non-U.S. Government Securities
  • Exclusion of Controlled Funds from the Definition of “Banking Entity”
  • Compliance Program/Reporting Requirements and the Prudential Backstops

References[edit]

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