SEC to Vote on Bank Proprietary Trading

U.S. securities regulators are “optimistic” that they will be able to vote before the end of the year on a final Volcker rule to ban proprietary trading by banks, Securities and Exchange Commission Chair Mary Jo White said Tuesday.

The SEC is one of five regulators coordinating the drafting of the final Volcker rule. The three banking regulators involved are tentatively planning to vote as early as next week.

“If one or more of the other regulators have set Dec. 10, I would expect us to act on or about that date,” White told reporters on the sidelines of a corporate governance conference at SEC headquarters.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza