Federal Reserve issues proposed rule on Volcker Rule transition period

On 26 November the Federal Reserve Board published a proposed rule setting forth a timeframe for compliance with the "Volcker Rule" provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The proposed rule would, by default, allow two years from the Volcker Rule's effective date for compliance, and allow extensions of such time under certain circumstances, as discussed in this Alert.

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