Yesterday, the Federal Reserve Board announced that it was granting a partial one-year extension of the Volcker Rule’s pending July 21, 2015 compliance deadline and said that it would grant an identical extension again next year. The extensions apply to the “covered funds” side of the Volcker Rule and give all banking entities until July 21, 2017 to conform any investments in, or relationships with, hedge funds and private equity funds to the requirements of the Volcker Rule, provided the investment or relationship was in place as of Dec. 31, 2013.
Click here to read more about the extended deadline.