Highlights from the Volcker Rule Conformance Period Extension Order

On December 18, 2014, the Federal Reserve announced a blanket extension of the Volcker Rule’s conformance period for “legacy covered funds.” The extension grants banking entities an additional year (until July 21, 2016) to conform investments in and relationships with covered funds and foreign funds that were in place prior to December 31, 2013.

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Highlights from the Volcker Rule Conformance Period Extension Order