On August 20, 2019, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation approved significant amendments to the Volcker Rule regulations. These amendments address to some extent industry concerns about the complexity of the existing regulations and certain other aspects that have been seen as disruptive of markets. On the whole, the amendments seek to relax features of the regulations seen as overly burdensome, tailor their application and rationalize other aspects of the existing regulatory regime. It is expected that the amendments will soon be approved by the other three federal agencies responsible for implementing the Volcker Rule. Once so approved, the amendments will become effective January 1, 2020, with compliance not required until January 1, 2021.
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