Bankers and lawmakers continue to question Volcker rule

09/11/2012 | Compliance Week · Wall Street Journal, The

Regulators were expected to respond to JPMorgan Chase's large trading loss this past spring by implementing a strong ban on proprietary trading by major banks, as outlined in the Volcker rule. However, many banking associations and lawmakers continue to raise concerns about the proposed rule. "We believe that the many problems with the Volcker Rule identified by a wide variety of stakeholders demonstrate the need for a substantive re-evaluation by Congress, and we strongly support the Chairman's [Rep. Spencer Bachus, R-Ala.] initiative to do so," according to SIFMA. Read SIFMA's news release regarding its support of alternatives to the Volcker rule. Read SIFMA's comments to a House panel regarding the rule.

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Compliance Week · Wall Street Journal, The

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