Leaked Volcker Rule Document Raises Questions

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A leaked document containing proposed federal regulations to implement the Volcker Rule, shows there are over 100 questions that regulators need to resolve before the final "Notice of Proposed Rulemaking" is issued at year-end. The Dodd-Frank Wall Street Reform and Consumer Protection Act, by President Obama last July, includes the Volcker Rule which prohibits bank holding companies from engaging in proprietary trading and limits banks' investments in private equity funds and hedge funds. The rule, proposed by President Obama, is supported by former Fed Chairman Paul Volcker. Major financial institutions, including Goldman Sachs, Morgan Stanley, Bank of America, JPMorgan Chase, Wells Fargo and Citigroup will be affected by the Volcker Rule.
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