US Financial Regulators Approve Volcker Rule

Law360, New York (December 10, 2013, 12:29 PM ET) -- U.S. financial regulators on Tuesday approved a final regulation for implementing the Volcker Rule, the Dodd-Frank Act's ban on proprietary trading by banks, bringing to a close a protracted, complex and clamorous rulemaking process and opening a new chapter of potential challenges to the regulation.

The final version of the rule takes a tough stand on bank hedges in a bid to eliminate trading losses like JPMorgan Chase & Co.'s $6 billion London Whale debacle while allowing for a broader definition of market-making than the banking...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required