Description
Understand the key elements of the current Volcker Rule compliance regime.As the Volcker Rule was being implemented, the OCC, one of the regulatory agencies in charge of implementing it, estimated that its cost to the banking industry could run into the billions. As the Volcker Rule approaches its ninth birthday (and the DoddFrank Act that created it nears its twelfth), the OCC’s estimate has been fully borne out. While the banking industry has settled in with the Volcker Rule (with perhaps varying degrees of grudging acceptance), significant compliance requirements, especially for large and complex banks, are ongoing. This course will teach you what the Volcker Rule is, where it came from, and what institutions and entities are impacted by the rule. This material will also review how the rule has changed over the decade or so it has existed, what its current requirements are, including requirements that form the backbone of a Volcker Rule compliance program.
Date: 2022-06-23 Start Time: End Time:
Learning Objectives
Introduction and Background
• What Is the Volcker Rule?
• Where Did the Volcker Rule Come From and Why Does It Exist?
• Who Does the Volcker Rule Impact?
What Does the Volcker Rule Do?
• Key Terminology
• Banking Entity
• Proprietary Trading
• Covered Fund
• Proprietary Trading Limitations
• General Prohibition
• Exclusions and Exemptions
• Covered Fund Limitations
• General Prohibition
• Exclusions and Exemptions
• Covered Transactions
• Compliance Program Requirements
• Different Levels of Compliance for Banking Entities
How Has the Volcker Rule Changed Since It Was Enacted?
• EGRRCPA Changes (Congress, 2018)
• Created a Community Bank Exemption
• Created an Exception From Sponsorship Prohibition Through Name Sharing
• Regulatory Agency Changes, 2018-2020
• Narrowing the Definition of Proprietary Trading
• New and Expanded Proprietary Trading Exclusions and Exemptions
• New and Expanded Covered Fund Exclusions and Exemptions
• Amended Compliance Regime to Reduce Regulatory Burden
Key Elements of the Current Volcker Rule Compliance Regime
• For Banking Entities With Significant TALs
• Six Pillars
• Annual CEO Attestation
• Simplified Program for Banking Entities With Moderate TALs
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Nathan Brownback-Seward & Kissel LLP
