US Chamber Asks Trade Regulators To Review Volcker Rule

Law360, New York (December 11, 2012, 6:33 PM EST) -- The U.S. Chamber of Commerce on Monday asked federal trade officials to review whether a proposed ban on proprietary trading by financial institutions would violate the country's World Trade Organization and free trade commitments, ramping up opposition to the hotly contested Volcker rule.

The Chamber said in a letter to U.S. Trade Representative Ron Kirk that the Volcker rule, which among other things restricts domestic banks from trading in foreign governments' debt, would put businesses at a “competitive disadvantage” in the global economy.

The letter notes...
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