Bloomberg News

Volcker Rule Curbs on Banks’ Trading Released for Comment by SEC

October 12, 2011

Oct. 12 (Bloomberg) -- The U.S. Securities and Exchange Commission joined three other federal regulators in seeking comment on a rule that would bar banks from making short-term trades for their own accounts and limit their ownership of private-equity and hedge funds.

SEC commissioners voted 4-0 at a meeting in Washington today to release the so-called Volcker rule for public comment through Jan. 13. The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency released the proposal yesterday.

--Editor: Gregory Mott

To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net


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