Banking Law News

Volcker Rule Overhaul May Have Missed Mark, Bank Regulator Says

Jan. 16, 2019, 5:25 PM

One of the key regulators working to soften the blow of the Volcker Rule’s trading restrictions on banks said he’s open to rehashing an aspect of a 2018 proposal that has drawn much criticism from Wall Street.

Joseph Otting, the chief of the Office of the Comptroller of the Currency, said he’s aware of complaints that the OCC, Federal Reserve, Securities and Exchange Commission and other agencies missed the mark in trying to define the types of trading that are banned by Volcker. Goldman Sachs Group Inc. is among banks that have argued the proposed revamp might make it even...

To read the full article log in. To learn more about a subscription click here.