Democratic CFTC member becomes first regulator to oppose proposed Volcker changes
Democratic CFTC commissioner Rostin Behnam said Monday that the proposed changes to the proprietary trading ban go too far.
Democratic CFTC commissioner Rostin Behnam said Monday that the proposed changes to the proprietary trading ban go too far.
Proposal to revamp 2013 rule appears to home in on larger banks with higher trading volume and ease the requirements for others.
The bill passed by the House took a more cautious approach to relief than prior legislative proposals but has still been hailed by banking industry groups.
The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.
The industry derides the proprietary trading ban as costly, and the Trump administration has heard those concerns. Yet regulators must choose between subtle though expedient pin-prick changes versus a more drastic overhaul.
The Office of the Comptroller of the Currency is planning to ask for public feedback on a proposal on whether and how to change the Volcker Rule.
The Treasury plan includes a slew of items that don’t require Congress to act, and appear feasible in the short term. Here's a guide to what changes could be made.