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 >>
Should Wall Street Pay Off Student Loan Debts?
Presidential candidate U.S. Sen. Bernie Sanders (I-Vt.) wants Wall Street to pay off $1.6 trillion in student debt via new taxes on securities transactions. Sanders, U.S. Rep. Pramila Jayapal (D-Wash.) and U.S. Rep. Ilhan Omar (D-Minn.) launched a bill, the College for All Act, on June 24 that would pay off student loan debt by… Read More >>
Sifma Takes on New SEF Rules
The CFTC’s new rules for swap execution facilities have spurred controversy and Kenneth E. Bentsen, Jr., acting president and CEO of securities industry advocacy group Sifma, has recently voiced his opposition to key provisions of the final rules.In mid-May, the CFTC gave the initial green light to the rules governing the exchange-like SEFs. With the… Read More >>
