On July 22, 2019, a final rule conforming the Volcker Rule regulations to Sections 203 and 204 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (“Regulatory Relief Act”) was published in the Federal Register. The final rule, and the provisions of the Regulatory Relief Act upon which it is based, exclude certain community banks from coverage of the Volcker Rule and relax restrictions on banking entities using the same name as hedge funds and private equity funds. The final rule does not change the manner in which the Volcker Rule is currently applied, since the relevant provisions of the Regulatory Relief Act were effective upon enactment.
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