“After the financial crisis, Mr Volcker’s own concern was directed at what he saw as unchecked dangers in the banking system. After a long campaign, the Obama administration decided to embrace his proposed ban on banks’ proprietary trading.”
“The so-called ‘Volcker rule,’ which seeks to prevent banks trading for their own account and also limits their ownership interest in hedge funds, became law as part of the Dodd-Frank Act. Earlier this month, regulators published their proposal on how to implement it.”
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