Regulators Set Dec. 10 Meeting To Give Volcker Rule Final Approval

Three of the five U.S. regulatory  agencies needed to approve the Volcker rule, which would place speculative trading restrictions on banking institutions, will meet Dec. 10 to adopt the final rule, according to anonymous sources cited in a Bloomberg article. The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. are planning the meeting, and the other agencies that must approve the rule – the Commodity Futures Trading Commission and the Securities and Exchange Commission – are also trying to arrange meetings for Dec. 10 to act on the rule. The Obama Administration has set a goal of approving the Volcker rule, a major component of the Dodd-Frank Act regulatory changes, before the end of the year.