The Institute of International Bankers presented "Dodd-Frank Seminar: Application of the 'Volcker Rule' to Foreign Banking Organizations" on January 24 in Skadden's New York office. The full-day seminar provided a comprehensive review and discussion of the critical issues arising from the application of the Volcker Rule to foreign banking organizations. New York investment management partner Heather Cruz participated in a panel discussion on issues associated with the prohibitions on investing in or sponsoring private equity and hedge funds as applied to foreign banking organizations, including the definition of “covered fund” and the application of the Super 23A prohibition.