Federal Reserve approves simpler ‘Volcker Rule’ ban on proprietary trading

//Federal Reserve approves simpler ‘Volcker Rule’ ban on proprietary trading

The Federal Reserve said on Tuesday it had approved a final rule simplifying the ‘Volcker Rule’ ban on proprietary trading, cementing a significant win for banks under the Trump administration. The Fed was the fifth and final financial regulator to sign off on the changes, which are aimed at making it easier for banks to comply with the rule, established after the 2007-2009 financial crisis, barring them from making profit-seeking trades with customer funds. The simpler rule takes effect on Jan. 1, 2020, and banks will be given one additional year to comply. The final version of the rule rewrite is even friendlier … (full story)

2019-10-09T11:02:50+00:00