Volcker rule delays likely as opposition grows
Rule may slip up to two years before full implementation, following criticism
The US Dodd-Frank Act sets an initial deadline of July 21, 2012 for implementation of the Volcker rule, which prohibits banks from engaging in proprietary trading as well as owning, sponsoring or investing in hedge funds and private equity funds. But the difficulty of defining prop trading is likely to mean delays – possibly allowing banks to continue prop trading well into 2014, according to one regulatory expert.
Coryann Stefansson is a director at PricewaterhouseCoopers' New York-based
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