Volcker Rule: Covered Funds

Many classes sell-out; we suggest registering at least two weeks in advance to ensure your seat.

Hours9:00 am – 5:00 pm; Registration/Breakfast: 8:30 am; Dress Code: Business Casual

CPE Credits: 7
Level: Beginner/Intermediate

Prerequisites: None
Method: Group Live

This course is designed for market professionals who need to know about the Volcker Rule’s covered funds exclusions and exemptions.  This course is interactive.

Course Objectives

At the end of this course, participants should be able to:

  • Define covered funds
  • Describe exemptions and exclusions
  • Identify best practices for compliance with the covered funds’ part of Volcker Rule
  • Discuss bank examiner and auditing expectations

Module I.       Define key terms for covered funds provisions of the Volcker Rule

  • Covered Funds – 3(c)(1) and 3(c)(7)
  • Investment Company Act of 1940s and exemptions
  • Non US Funds (SOTUS)
  • Sponsorship
  • Ownership Interests
  • Legacy vs non legacy funds

Module II.       Define and Describe Exclusions that can be Relied on:  

  • Asset Management Exception
  • Registered Investment Companies
  • Foreign Public Fund
  • Foreign Pension Fund
  • Sovereign/Government Fund
  • Wholly Owned Subsidiary
  • Bank Owned Life Insurance
  • Directed Trusteeship
  • Loan Securitization
  • ABCP Conduit
  • Public Welfare Investment Fund
  • Permitted Investment limits – prefund limits (seeding and non-seeding period), Aggregate Limit 3% of Tier I capital
  • Super 23A Restrictions
  • Backstop Provisions and monitoring

Module III       Discuss Best Practices for Covered Fund Compliance Program

  • Monitoring and surveillance, controls, documentation requirements, violation and escalation procedures
  • Independent Testing Approach
  • Self-assessments and certifications
  • CEO Attestation
  • Bank examiner procedures

Summary Conclusion and Question and Answer Session

US $995.00

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