Regulators Should Propose New Volcker Rule, Paredes Says

U.S. financial regulators should “re-propose” the so-called Volcker Rule that bans banks from engaging in proprietary trading, Securities and Exchange Commission member Troy Paredes said.

“At this point, the most prudent path forward would be a re-proposal,” Paredes, one of two Republicans on the five-member commission, said at a conference in Washington sponsored by the Council of Institutional Investors. “We run the risk that when we solve one problem we create many other problems and other unintended consequences.”