US Volcker Rule — covered funds: FAQs for European structured finance transactions

As expected, the US federal regulators voted last week to approve the final Volcker Rule, which imposes restrictions on banking entities’ ability to engage in proprietary trading and to own and sponsor private investment vehicles.

The Volcker Rule applies broadly to banking entities, including certain non-US banks, and while the US regulators have considered the extraterritorial concerns raised in respect of the proposed Volcker Rule and have re-focused and narrowed their aim in this regard to some degree, key issues remain for European securitisation transactions.

This e-alert seeks to provide preliminary answers to certain of those issues, and Allen & Overy will continue to closely analyse the Volcker Rule in the coming months…

If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.

Briefings from Allen & Overy

  • ITC reaffirms its power to bar digital file transfers

    The ITC has reaffirmed its power to ban electronic transmissions from the US where those transmissions infringe an intellectual property right or are otherwise based on an unfair trade practice.

  • Changes to French takeover rules

    A new French law, the ‘Law to recapture the real economy’ (‘Loi visant à reconquérir l’économie réelle’ or ‘Loi Florange’), was made on 1 April 2014.

View more briefings from Allen & Overy

Analysis from The Lawyer

View more analysis from The Lawyer


One Bishops Square
E1 6AD

Turnover (£m): 1,189.00
No. of Lawyers: 2,304
No. of Lawyers (Asia Pacific): 357
Offices (Asia Pacific): 10