Volcker Revamp to Ease Banks’ Trading Rules, Path to Investments
- Opening votes on long-awaited parts of rule set for Aug. 20
- Agencies also to propose pro-Wall Street tweaks on fund limits
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Wall Street watchdogs are poised to take a major step toward overhauling Volcker Rule limits on banks’ ability to trade with their own funds, according to four people familiar with the effort, moving to ease post-crisis safeguards reviled by the industry.
Regulators responsible for the Dodd-Frank Act rule are set to approve revisions next week. The changes will loosen restrictions on banks investing their own money in private equity and hedge funds, according to the people, who requested anonymity because the process isn’t public.