SEC Chief Mulling Volcker Rule Reboot

Law360, New York (March 6, 2012, 2:49 PM EST) -- The head of U.S. Securities and Exchange Commission said Tuesday that regulators may scrap the initial proposal of the Volcker Rule limiting proprietary trading by banks, and would at the very least miss a July deadline to implement the rule.

In testimony before a House Appropriations subcommittee, SEC Chairwoman Mary Schapiro said her agency and others were weighing whether to start over and propose a new version of the highly contentious Volcker Rule, the brainchild of former Federal Reserve Chairman Paul Volcker, or attempt to revise...
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