Financial institutions regulation and enforcement head William Sweet and New York investment management partner Heather Cruz participated in "The Volcker Rule 2017: What It Means for Financial Institutions and Markets," a PLI seminar held May 9 in New York. As co-chair, Mr. Sweet delivered the seminar introduction. Ms. Cruz participated in a panel discussion titled "The Volcker Rule — Funds," focusing on relevant definitions; exclusions for foreign funds, RICs (registered investment companies), securitizations and joint ventures; treatment of securitizations; and the organization and operation of a permitted fund, among other topics.