Obama sends proposed legislation on "Volcker rule" to Congress

President Barack Obama submitted to Congress proposed legislation that would prohibit financial companies, including those that do not own bank subsidiaries, from conducting proprietary trading. "Moreover, any financial firm that is identified for heightened supervision under the administration's regulatory reform proposal would be subject to additional capital and quantitative limits on these activities," according to the White House's summary. The proposal also would limit the growth of major financial institutions by prohibiting mergers that would result in a market share that is bigger than a preset limit.

View Full Article in:

Bloomberg · Bloomberg Businessweek · MarketWatch · Wall Street Journal, The

Published in Brief:

SmartBrief Job Listings for Business

Job Title Company Location
VP of Video Content Distribution
Calkins Media
Levittown, PA
Administrative Assistant
Watco Companies
Los Angeles, CA