Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform Investments in Certain “Illiquid Funds” to Requirements of Volcker Rule

 

On June 7, 2017, the Federal Reserve Board authorized an extension of up to five (5) years for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to comply with certain aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act (often referred to as the Volcker rule) relating to “investments in certain ‘illiquid funds[.]'” Press Release.