SEC Watchdog Sues Feds Over Volcker Rule Delay

Law360, New York (February 27, 2013, 5:03 PM EST) -- Two New Yorkers affiliated with a U.S. Securities and Exchange Commission watchdog asked a New York federal judge Tuesday to demand that the federal government implement the long-delayed Volcker rule, a provision of the Dodd-Frank Act restricting banks from making certain speculative investments with depositor funds.

Occupy the SEC members Eric Taylor and Kristine Ekman asked the court to declare that a raft of government agencies has unreasonably delayed the final rulemaking on the Volcker rule, in violation of the Administrative Procedures Act.

"The defendants' failure...
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