Volcker Rule Set for Dec. 10 Approval by U.S. Regulators
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U.S. regulators will meet on Dec. 10 to adopt the final version of the Volcker rule banning banks from making speculative bets with their own money, the agencies said in statements today.
The Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corp. and Commodity Futures Trading Commission will act on that date, according to notices from the regulators. The remaining agency that needs to approve the rule -- the Securities and Exchange Commission -- will probably act at about the same time as the others, said SEC Chairman Mary Jo White.