6.25.20
Yesterday, five federal regulatory agencies finalized a rule modifying the Volcker rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds, known as covered funds. The final rule is largely unchanged from the January re-proposal.
In April, SFA submitted a response to the recent re-proposal. Our letter largely focused on certain aspects of the Loan Securitization Exemption and also suggested modifications and clarifications to the definition of ownership interest. SFA members and staff are reviewing the final rule and will discuss within our Securitization and Covered Funds Task Force. If you are interested in learning more or joining that Task Force, please reach out to the SFA Team