Venture-Capital Investment Restriction

The OCC is “clarifying,”  but  also in many respects rescinding one aspect of controversial 2020 rules expanding the “covered funds” under which banks may make equity investments as provided by the Volcker Rule.  Although the bulletin doing so is very brief, it is also decisive:  regardless of the extent to which a venture-capital (VC) investment is permitted under the covered-fund rule, it is barred for national banks and other entities under OCC jurisdiction unless it fits into other, narrower authorizing standards.