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Long-Sought Volcker Rule Revisions Land on a Changed Wall Street

Aug. 20, 2019, 5:25 PM

Wall Street spent the better part of a decade battling for regulators to reshape the reviled Volcker Rule. When the changes finally landed Aug. 20, the win felt more symbolic.

The Federal Deposit Insurance Corp. and other regulators rolled out tweaks that clarify which trades are prohibited and lay out limits for banks to follow in their market-making units. While those are some of the revisions that banks had pushed for, they’re far from transformational changes that will spark a trading revival.

“Reports of the demise of the Volcker Rule are premature,” said Jai Massari, a partner at law firm ...