No One Regulator Will Lead Volcker Enforcement, Lew Says

Law360, New York (December 12, 2013, 2:00 PM EST) -- Treasury Secretary Jack Lew on Thursday tried to ease skeptical lawmakers' concerns that federal financial regulators would have differing standards for enforcing the Volcker rule's ban on proprietary trading, but said that no single regulator had the authority to take the lead on such issues.

At a sometimes testy hearing before the House Financial Services Committee, Lew said that because five regulators worked closely to create a joint rule and released it concurrently, any confusion about what types of trading is and is not permissible should...
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