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Volcker Backs Report On His Rule
Paul Volcker, the former chairman of the Federal Reserve, said he supports the approach to implementing the proprietary-trading ban rule named for him suggested by the Financial Stability Oversight Council, reports The Wall Street Journal.
Paul Volcker, the former chairman of the Federal Reserve, said he supports the approach to implementing the proprietary-trading ban rule named for him suggested by the Financial Stability Oversight Council. Volcker also praised the FSOC report’s recommendation that bank ceos and company boards closely monitor enforcement of the rule, a suggestion that has surprised some in the banking industry.