On December 10, 2013, federal agencies issued final regulations for the Volcker Rule (Rule) under the Dodd-Frank Act, which generally prohibits banks from engaging in proprietary trading and from sponsoring or owning interests in certain private funds. See “Key Legal Considerations in Connection with the Movement of Talent from Proprietary Trading Desks to Start-Up or Existing Hedge Fund Managers: The Talent Perspective (Part One of Three),” Vol. 3, No. 49 (Dec. 17, 2010). A recent webinar presented by Ropes & Gray LLP provided an overview of key provisions of the Rule, as supplemented by those regulations. The speakers were Ropes & Gray partners Sarah Davidoff and Mark Nuccio, and associate Richard Loewy. Nuccio and other colleagues first addressed the Rule in the HFLR when the Rule was in its proposed form. See “Proposed Volcker Rule and the Effect on Private Fund Sponsors and Investors,” Hedge Fund Law Report, Vol. 4, No. 38 (Oct. 27, 2011).