Fed and other US regulators call for major changes to Volcker rule
Complex legislation has created compliance uncertainty, Federal Reserve argues
The US Federal Reserve and four other financial regulators have jointly proposed simplifying some of the elements of the Volcker rule, which limits speculative trading at banks.
The Fed argues in an official statement published on May 30 that “experience has shown the complexity of the rule has created compliance uncertainty for firms subject to the rule”.
It called for “eliminating or modifying requirements that are not necessary to effectively implement the statute, without diminishing the
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