Federal regulators overseeing financial markets are taking major steps to refine the Dodd-Frank Act’s Volcker Rule restricting proprietary trading so that it has a narrower focus. Since the recovery from the Great Recession, the rule, inspired by Paul Volcker, the former chairman of the U.S. Federal Reserve, has held back banks from proprietary trading and… Read More >>
Regulators Extend Comment Deadline for New Volcker Rule
Five Regulators Move Volcker Rule Deadline to Oct. 17 Securities industry participants will get more time to weigh in on the very controversial Dodd-Frank Era “Volcker Rule,” which in its initial form prohibits proprietary trading and banks from owning hedge funds or private equity funds. Five federal financial regulatory agencies have agreed to extend until… Read More >>
ISC Creates a Map for T+2 Move
The nitty gritty of shorter settlement cycles is getting clearer as the U.S. T+2 International Steering Committee (T+2 ISC) has submitted its Implementation Playbook to the SEC on December 18 and released to the industry on Dec. 21 to provide the industry with a timeline to help them move to a two-day settlement cycle (T+2)… Read More >>
SEC to Take on the Volcker Rule
The SEC will be joining a hallelujah chorus of sorts as the CFTC, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are expected to vote on the Volcker Rule on Tuesday.Clarifying media speculation, the SEC will be taking up the Volcker Rule on Tuesday, Dec. 10,… Read More >>
