Volcker Rule Reform Next Steps Coming In Fall, Quarles Says

Law360 (July 11, 2019, 7:30 PM EDT) -- A top Federal Reserve official said Thursday that the banking industry could soon find out how federal regulators plan to proceed with a Volcker rule overhaul effort after concerns were raised last year about proposed changes to the rule's proprietary trading prohibitions.

Speaking in Washington at a Bipartisan Policy Center fireside chat, Fed Vice Chair for Supervision Randal Quarles said he anticipates a release "early in the fall" of a rulemaking proposal that will respond to comments received on the prop trading-related changes that were first unveiled in May 2018.

Although federal regulators have not yet formally proposed any revisions to...

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