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Happy New Year: Proposed Volcker Rule Regulation Would Ease Hedge Fund and Private Equity Fund Name-Sharing Restrictions
The Economic Growth, Regulatory Relief, and Consumer Protection Act (“EGRRCPA”), enacted on May 24, 2018, amended section 13 of the Bank Holding Company Act (“BHC Act”) (a section of the BHC Act commonly known as the “Volcker Rule”) by modifying the definition of “banking entity” to exclude certain small banks from the Volcker Rule’s restrictions and by permitting a banking entity to share a name with a hedge fund or private equity fund that it organizes and offers under certain circumstances.