Data Collection Presents Banks' First Volcker Hurdle

By Evan Weinberger (July 3, 2014, 4:09 PM EDT) -- The biggest banks began collecting trading data last month as the first Volcker Rule deadline hit, and experts say those collection efforts have exposed banks' shortcomings as they get ready for regulators to begin enforcing the proprietary trading ban next year.

Regulators required the banks with the largest trading operations to begin collecting granular data about the trades they make beginning at the end of June, and those institutions will begin submitting that data to their respective supervisors beginning in September as both sides get more comfortable with the Volcker Rule.

The data collection is serving as a sort of dress...

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