Volcker Rule — Potential Perils To The Muni Bond Market

Law360, New York (May 22, 2012, 6:14 PM EDT) -- In November 2011, under Section 619 of the Dodd-Frank Act, also known as the Volcker Rule, the U.S. Securities and Exchange Commission, the Office of the Comptroller of the Currency, the FDIC and the Federal Reserve Board (collectively, the “agencies”) jointly issued a notice of proposed rulemaking (the “proposal”) containing certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by the FRB to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or...
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