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Mandatory Compliance Date: Changes to Simplify Volcker rule

Under the revised rule, firms that do not have significant trading activities will have simplified and streamlined compliance requirements, while firms with significant trading activity will have more stringent compliance requirements. Community banks generally are exempt from the Volcker rule by statute. The revisions continue to prohibit proprietary trading, while providing greater clarity and certainty for activities allowed under the law. With the changes, the agencies expect that the universe of trades that are considered prohibited proprietary trading will remain generally the same as under the agencies' 2013 rule.

The rules will be effective on January 1, 2020, with a compliance date of January 1, 2021. Read more here

  • January 1, 2021
  • Time: All Day
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