Mr. Paridon is counsel in Davis Polk’s Financial Institutions Group. [Full Bio]

Guidelines on covered fund seeding extensions from the Federal Reserve yesterday, following on the heels of last Friday’s guidance for foreign excluded funds, is a hopeful sign that the freeze on Volcker Rule guidance is finally thawing.  Perhaps these green shoots signal that broader, common sense relief is coming.  Yesterday’s
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Ever since the final Volcker Rule regulations were made public in December 2013, foreign banks and their regulators have expressed concern about the extraterritorial reach of the Volcker Rule to certain foreign funds that have a foreign bank as sponsor or investor.  This policy issue has, as is often the
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The Economic Growth and Regulatory Paperwork Reduction Act (“EGRPRA”) requires the federal banking agencies to conduct a review of their regulations every ten years. The purpose is to identify outdated or otherwise unnecessary regulatory requirements imposed on banks. Last Tuesday, the banking agencies sent the latest report required under EGRPRA
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