The United States, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Securities and Exchange Commission coordinated the release of proposed regulations implementing the “Volcker Rule” as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If enacted as written, these regulations, in addition to restricting bank investments in hedge and private equity funds, will likely achieve the primary goal of forcing insured depository institutions, bank holding companies, as well as their subsidiaries and affiliates to exit the proprietary trading business.