We issued a client memorandum on December 9 listing the major topics to look for when the five financial regulatory agencies agreed to finalize the Volcker Rule, which generally prohibits banking organizations from engaging in proprietary trading and investing in or sponsoring private investment funds, subject to a host of exceptions and details. The agencies issued the final version of the Rule yesterday, but clearly its requirements will take years to unfold.View full memo, The Final Volcker Rule Begins to Emerge
