December.20.2013
On December 10, 2013, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Securities and Exchange Commission promulgated the final rule implementing the prohibitions and limitations imposed on banking entities by Section 13 of the Bank Holding Company Act of 1956 (the "Volcker Rule"). This alert provides a general overview of the Volcker Rule and highlights certain provisions that we believe to be of particular interest to our clients. We expect to provide additional information and analysis on one or more specific provisions of the Volcker Rule in the coming months. Should you have questions, whether general or specific, regarding the Volcker Rule and its applicability or impact to you or your business, please reach out to any of your contacts at Orrick.