Volker Rule Updates

Republicans take aim at Volcker

The US ban on proprietary trading known as the Volcker rule has emerged as the main partisan fight over regulatory reform, with huge implications for the biggest US institutions.

After winning control of the House of Representatives in last week’s midterm elections, Republicans are ramping up efforts to weaken the prohibition, which is named after Paul Volcker, the former Federal Reserve chairman.

 

Wall Street to sidestep ‘Volcker rule’

Wall Street groups will continue to invest billions of dollars in property and companies in spite of new rules aimed at curbing banks’ bets with their capital, executives say.US financial groups such as Goldman Sachs, JPMorgan Chase and Morgan Stanley intend to take advantage of a little-discussed aspect of the “Volcker rule” – part of the financial reform lawapproved in July – to continue making direct investments.

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