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Issue 87 – Regulatory and Tax Developments in December 2011
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Section 619 of Dodd-Frank (the “Volcker Rule”)
generally prohibits any banking entity, including affi liates
of banks, from the following (all of which are subject to
a number of exceptions): (i) engaging in, sponsoring or
investing in a “covered fund” (e.g., a hedge fund, pri-
vate equity fund, and numerous other private funds and
pooled investment vehicles), and (ii) having certain rela-
tionships with a covered fund.
33 Additionally, the Volcker
Rule places further restrictions on banking entities and
their affi liates from serving as an investment adviser to a
private fund.
34 The Volcker Rule also prohibits banking
entities from engaging...
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Issue 87 – Regulatory and Tax Developments in December 2011
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Issue 87 – Regulatory and Tax Developments in December 2011
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