Law360, New York (February 10, 2015, 10:45 AM EST) -- Critical attention should be paid to the Volcker Rule's anti-evasion provision, a powerful tool granted by Congress to the regulatory agencies to ensure compliance with the Volcker Rule. The Board of Governors of the Federal Reserve System recently provided banking entities subject to the Volcker Rule with an extension until July 21, 2016, in order to conform their investments in, and relationships with, covered funds and foreign funds that were in place prior to Dec. 31, 2013. That extension, however, did not apply to the conformance deadline of July 21, 2015, for Volcker Rule proprietary trading restrictions.[1] Therefore, the anti-evasion provision is a critical regulatory issue to watch in 2015....
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