Leveraged Finance partner Douglas Landy, Alternative Investments special counsel Catherine Leef Martin, and Leveraged Finance associate James Kong published an article in Westlaw Journal Derivatives discussing a joint statement issued this summer by the three federal bank supervisory agencies regarding the Volcker Rule's treatment of certain "foreign excluded funds." The article reviews the problematic (and presumably unintended) manner in which the Volcker Rule currently applies to foreign excluded funds, analyzes the conditions of the time-limited relief provided by the Agencies' statement, and discusses the likelihood that more permanent relief may be forthcoming.
Read the full article: "A Shift Into Neutral – Volcker Agencies Provide Temporary Relief While Continuing to Mull Foreign Excluded Funds"
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