Volcker rule undergoes slimming regime

Jasper Cox

August 21, 2019 01:00 PM

FDIC_PA_230x150 — UNITED STATES - MAY 16: Jelena McWilliams, chairman of the Federal Deposit Insurance Corporation, testifies during a House Financial Services Committee hearing in Rayburn Building titled "Oversight of Prudential Regulators: Ensuring the Safety, Soundness and Accountability of Megabanks and Other Depository Institutions," on Thursday, May 16, 2019. (Photo By Tom Williams/CQ Roll Call) | CQ-Roll Call/SIPA USA/PA Images

The Volcker rule is set to be tweaked, simplified and watered down, changing the section of the US’s Dodd-Frank regulations stopping banks from engaging in proprietary trading. Only banks with more than $20bn of trading assets and liabilities will face the fullest compliance programme, while rules over what is identified as prop trading have been weakened.

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Jasper Cox