The amended rule includes modifications to existing exclusions and creates new exclusions for the activities and investments of certain issuers.

By Alan W. Avery and Pia Naib

The US federal regulatory agencies responsible for implementing the Volcker Rule recently issued a rule (Final Rule) to finalize proposed modifications to certain restrictions related to “covered funds” that were adopted in 2013 (2013 Rule). The issuance of the Final Rule, whose effective date is October 1, 2020, followed an extended comment period