WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 17

12 U.S.C. 1851: Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

Created in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203). Changed by 1 later law. No bill we track in this Congress changes it.

2 other sections of the Code cite this one, including 15 U.S.C. 632, 15 U.S.C. 8305.

6 parts of federal rules cite it as their authority, written by Federal Reserve System (2), Comptroller of the Currency, Department of the Treasury (1), Federal Deposit Insurance Corporation (1), Commodity Futures Trading Commission (1).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2018

    • Pub. L. 115–174, §204(1), inserted before semicolon ", except that the hedge fund or private equity fund may share the same name or a variation of the same name as a banking entity that is an investment adviser to the hedge fund or private equity fund, if— (Economic Growth, Regulatory Relief, and Consumer Protection Act) Law text · (d)
    • Pub. L. 115–174, §203, substituted "institution—" for "institution that functions solely in a trust or fiduciary capacity, if—" in introductory provisions, inserted "(A) that functions solely in a trust or fiduciary capacity, if—" after introductory provisions, redesignated former s… (Economic Growth, Regulatory Relief, and Consumer Protection Act) Law text · (h)
    • Pub. L. 115–174, §204(2), inserted ", except as permitted under subsection (d)(1)(G)(vi)" before period at end. (Economic Growth, Regulatory Relief, and Consumer Protection Act) Law text · (h)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.