‘Volcker Rule’ Adopted; Will Restrict Bank Proprietary Trading, Fund Ownership

Five federal regulators released final regulations to limit bank proprietary trading and fund ownership on a day that quickly shifted the focus to what several said could be a highly challenging process of implementation.

By late Dec. 10, the Federal Reserve Board (Fed), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) adopted final regulations under the so-called “Volcker Rule,” one of the most far-reaching elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

In a Dec. 10 statement, ...