[Federal Register Volume 84, Number 232 (Tuesday, December 3, 2019)]
[Rules and Regulations]
[Page 66063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26066]
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Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
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Federal Register / Vol. 84, No. 232 / Tuesday, December 3, 2019 /
Rules and Regulations
[[Page 66063]]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 351
RIN 3064-AE67
Prohibitions and Restrictions on Proprietary Trading and Certain
Interests in, and Relationships With, Hedge Funds and Private Equity
Funds; Corrections
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Final rule; correcting amendments.
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SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is correcting
a final rule that appeared in the Federal Register on Thursday,
November 14, 2019, regarding Prohibitions and Restrictions on
Proprietary Trading and Certain Interests in, and Relationships With,
Hedge Funds and Private Equity Funds. These corrections are necessary
to standardize the language in the FDIC regulations with the other
agencies' regulations.
DATES: Effective January 1, 2020.
FOR FURTHER INFORMATION CONTACT: Bobby R. Bean, Associate Director,
[email protected], Andrew D. Carayiannis, Senior Policy Analyst,
[email protected], or Brian Cox, Senior Policy Analyst,
[email protected], Capital Markets Branch, (202) 898-6888; Michael B.
Phillips, Counsel, [email protected], or Benjamin J. Klein, Counsel,
[email protected], Legal Division, Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: On November 14, 2019, the Office of the
Comptroller of the Currency (OCC), Board of Governors of the Federal
Reserve System (Board), FDIC, Securities and Exchange Commission (SEC),
and Commodity Futures Trading Commission (CFTC) (collectively, the
agencies) published a final rule, Prohibitions and Restrictions on
Proprietary Trading and Certain Interests in, and Relationships With,
Hedge Funds and Private Equity Funds.\1\ The final rule adopted
amendments to the regulations implementing section 13 of the Bank
Holding Company Act, which 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. The FDIC
wishes to make certain corrections to its final rule text in order to
maintain consistency among the agencies.
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\1\ 84 FR 61974 (Nov. 14, 2019).
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For the reasons set out in the preamble and in this document, in FR
Doc. 2019-22695, appearing on page 61974 in the Federal Register of
Thursday, November 14, 2019, the following corrections are made:
Sec. 351.5 [Corrected]
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1. On page 62171, in the first column, in part 351, in amendment 35,
the instruction ``Section 351.5 is amended by revising paragraphs (b)
and (c)(1) and adding paragraph (c)(4) to read as follows:'' is
corrected to read as follows: ``Section 351.5 is amended by revising
paragraphs (b) and (c)(1) introductory text and adding paragraph (c)(4)
to read as follows:''
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2. On page 62171, in the first column, in Sec. 351.5, in paragraph
(b), ``* * *'' is corrected to read ``Requirements.''
Dated on November 26, 2019.
Federal Deposit Insurance Corporation.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019-26066 Filed 12-2-19; 8:45 am]
BILLING CODE 6714-01-P