Presentation
Impact of the Volcker Rule on ETFs and Authorized Participants Roundtable
April 10, 2014
Participants joined us for a networking breakfast and roundtable to discuss the impact of the Volcker Rule on ETFs and Authorized Participants.
Discussion topics included:
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The Volcker Rule prohibition on proprietary trading and an overview of AP trading activities
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The Volcker Rule’s market-making and underwriting exemptions
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Volcker Rule status of ETFs
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Impact on initial seeding of ETFs
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Differing Volcker Rule treatment of ETFs and other ETPs
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Compliance requirements under the Volcker Rule
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Underwriter liability and risk mitigation procedures