Five U.S. Regulators Extend Comment Period for Proposal to Ease ‘Volcker Rule’

[kreslik.news]

Five of U.S. financial regulators announced Tuesday they were allowing additional time for the public to comment on a proposal to ease the “Volcker Rule,” one of the financial industry’s most-hated restrictions which imposes a prohibition on risky proprietary trading by Wall Street banks.

The Fed Board, CFTC, SEC, FDIC and the Office of the Comptroller of the Currency, all previously approved the legislation in 2013, said the public would now have until October 17 to weigh in on the matter, after setting an initial September 17 deadline on submissions.

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The regulators in July proposed ... (read more)