{"abstract":"The OCC, Board, FDIC, SEC, and CFTC are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act. Section 13 contains certain restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. These final amendments are intended to provide banking entities with clarity about what activities are prohibited and to improve supervision and implementation of section 13.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of the Comptroller of the Currency","name":"Comptroller of the Currency","id":80,"url":"https://www.federalregister.gov/agencies/comptroller-of-the-currency","json_url":"https://www.federalregister.gov/api/v1/agencies/80","parent_id":497,"slug":"comptroller-of-the-currency"},{"raw_name":"FEDERAL RESERVE SYSTEM","name":"Federal Reserve System","id":188,"url":"https://www.federalregister.gov/agencies/federal-reserve-system","json_url":"https://www.federalregister.gov/api/v1/agencies/188","parent_id":null,"slug":"federal-reserve-system"},{"raw_name":"FEDERAL DEPOSIT INSURANCE CORPORATION","name":"Federal Deposit Insurance Corporation","id":164,"url":"https://www.federalregister.gov/agencies/federal-deposit-insurance-corporation","json_url":"https://www.federalregister.gov/api/v1/agencies/164","parent_id":null,"slug":"federal-deposit-insurance-corporation"},{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"},{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2019/11/14/2019-22695.html","cfr_references":[{"chapter":null,"citation_url":null,"part":44,"title":12},{"chapter":null,"citation_url":null,"part":248,"title":12},{"chapter":null,"citation_url":null,"part":351,"title":12},{"chapter":null,"citation_url":null,"part":75,"title":17},{"chapter":null,"citation_url":null,"part":255,"title":17}],"citation":"84 FR 61974","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The effective date for amendatory instructions 1 through 14 (OCC), 16 through 29 (Board), 31 through 44 (FDIC), and 46 through 58 (CFTC) is January 1, 2020; the effective date for amendatory instructions 60 through 73 (SEC) is January 13, 2020; and the effective date for the addition of appendices Z at amendatory instructions 15 (OCC), 30 (Board), and 45 (FDIC) is January 1, 2020, through December 31, 2020, except for amendatory instruction 74 (SEC), which is effective January 13, 2020, through December 31, 2020.","disposition_notes":null,"docket_ids":["Docket No. OCC-2018-0010","Docket No. R-1608","Release no. BHCA-7","File no. S7-14-18"],"dockets":[],"document_number":"2019-22695","effective_on":"2020-01-01","end_page":62277,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2019/11/14/2019-22695.xml","html_url":"https://www.federalregister.gov/documents/2019/11/14/2019-22695/prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-and-relationships-with","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2019-22695?publication_date=2019-11-14","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2019-11-14/2019-22695/mods.xml","not_received_for_publication":null,"page_length":304,"page_views":{"count":6588,"last_updated":"2026-05-26 12:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2019-11-14/pdf/2019-22695.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2019-22695.pdf?1573652718","publication_date":"2019-11-14","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2019/11/14/2019-22695.txt","regulation_id_number_info":{"3235-AM10":{"issue":"201910","html_url":"https://www.federalregister.gov/regulations/3235-AM10/prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-and-relationships-with","title":"Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, And Relationships With Hedge Funds and Private Equity Funds","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201910&RIN=3235-AM10&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"},"1557-AE27":{"issue":"201910","html_url":"https://www.federalregister.gov/regulations/1557-AE27/proposed-revisions-to-prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-","title":"Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201910&RIN=1557-AE27&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"},"3064-AE67":{"issue":"201904","html_url":"https://www.federalregister.gov/regulations/3064-AE67/proposed-revisions-to-prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-","title":"Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds (Volcker Rule)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201904&RIN=3064-AE67&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"},"3038-AE72":{"issue":"201910","html_url":"https://www.federalregister.gov/regulations/3038-AE72/proposed-revisions-to-prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-","title":"Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds (Volcker Rule)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201910&RIN=3038-AE72&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["1557-AE27","3038-AE72","3064-AE67","3235-AM10"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2019-11-18T09:30:10Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":61974,"subtype":null,"title":"Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds","toc_doc":"Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships with, Hedge Funds and Private Equity Funds","toc_subject":null,"topics":["Administrative practice and procedure","Brokers","Credit","Foreign banking","Government securities","Holding companies","Insurance","Insurance companies","Investments","National banks","Penalties","Reporting and recordkeeping requirements","Securities","Trusts and trustees"],"type":"Rule","volume":84}