US regulators hand Volcker rule exemption to foreign firms
Agencies are conducting a review of how the Volcker rule is applied to foreign investment funds
The Federal Reserve and four other US regulators have given foreign investment funds an exemption from the Volcker rule while they conduct a review of the rule’s foreign application.
The watchdogs noted that while investment funds “organised and offered” outside the US are meant to be excluded from the rule, some are nevertheless captured due to “complexities in the statute and the implementing regulations”.
The Fed, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation
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