Fed outlines Volcker rule timeline
Banks will get up to five years' grace to divest fund investments
US regulators are still months away from final rulemaking on the implementation of the Volcker rule - the restrictions on prop trading and fund investments by banks devised by former Federal Reserve chairman Paul Volcker and included in Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. But the Fed today issued final rules on the time banks will be given to comply with the new rule.
The rule itself will come into force on July 21 next year - or 12 months after final
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