Volcker Rule Overhaul Gets Final Approval as Fed Signs Off

The Federal Reserve signed off on an overhauled Volcker Rule, making it the last of five agencies to approve changes that will dial back the regulation’s restrictions on Wall Street banks’ speculative investments.

The rewrite, which takes full effect at the start of 2021, is meant to provide lenders a clearer picture of which trades are prohibited by Volcker. Four other financial agencies had already signed off on the effort and had waited weeks for the Fed to add its approval.

“The revisions continue to prohibit proprietary trading, while providing greater clarity and certainty for activities allowed under the law,“ ...