US Financial Regulators Approve Volcker Rule

Law360, New York (December 10, 2013, 12:29 PM EST) -- 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...
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