Tuesday, March 17, 2020
12:00 – 1:00 pm (Eastern Time)
11:00 – 12:00 pm (Central Time)
10:00 – 11:00 am (Mountain Time)
9:00 – 10:00 am (Pacific Time)
Banks are restricted from investing in private funds? Think again.
On January 30, the Federal Reserve (alongside other regulators) issued a proposal that would remove certain restrictions on banks to allow them to invest in, or sponsor, hedge funds or private equity funds (so-called covered funds). In particular, the recent proposal modifies provisions of the regulations implementing the Volcker rule, to allow banks to invest in certain funds and to sponsor or maintain ownership interests in venture capital funds.
Contemporaneous with the Volcker proposal, the Fed finalized a separate rule concerning “control” that would to make it easier for venture capital and hedge funds to invest in banks (and vice versa).
The Volcker proposal and final “control” rule, collectively, will facilitate greater capital throughout the banking system and institutions should prepare to capitalize on this opportunity.
This banking webinar will cover:
- Key provisions of the Volcker proposal, recent changes, and areas of interest for affected institutions;
- The Fed’s final rule on its “control” framework and key distinctions from the 2019 notice of proposed rulemaking (NPR); and
- Opportunities for banks and investors to capitalize on changes under the Volcker proposal and the Fed’s final rule on “control.”
This executive webinar is appropriate for:
- Venture capital firms, private equity funds, and investment staff at venture arms of banks and savings associations;
- Bank executive officers, bank directors, and other senior management; and
- Bank staff investing in, and/or partnering with, fintech companies.
John Popeo is a principal at The Gallatin Group, a consulting firm that advises financial institutions, investment companies and technology firms on a range of complex transactions and bank regulatory matters. Prior to joining Gallatin, Mr. Popeo was a senior associate in the financial institutions group (FIG) at Hogan Lovells US LLP. He spent a decade in various roles at the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Bank of Boston. At the FDIC, Mr. Popeo assisted in responding to the 2008 global financial crisis and represented the agency before various subcommittees of the Financial Stability Oversight Council (FSOC). Mr. Popeo also drafted regulations to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Earlier in his career, he worked in the Financial Litigation Unit of the United States Attorneys’ Office. Mr. Popeo also serves as a faculty member at the Financial Integrity Institute at Case Western Reserve University School of Law.
1.0 CPE Credits & 1.2 AAP Credits