Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
other · OCC · Rule · Published 2020-07-31 · Effective 2020-10-01 · 85 FR 46422
Document
Document number
2020-15525
Federal Register citation
85 FR 46422
CFR reference
12 CFR 44
Type
Rule
Action
Final rule.
Category
other
Sub-agency
OCC
Publication date
2020-07-31
Effective date
2020-10-01
Treasury docket
Docket No. OCC-2020-0002
Abstract
The OCC, Board, FDIC, SEC, and CFTC (together, the agencies) are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act (BHC Act). Section 13 contains certain restrictions on the ability of a banking entity or nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund (covered funds). These final amendments are intended to improve and streamline the regulations implementing section 13 of the BHC Act by modifying and clarifying requirements related to the covered fund provisions of the rules.