US regulators are set to vote on the Volcker rule, a measure designed to place restrictions on the finance industry in the wake of the 2008-2009 financial collapse.
Named after former Federal Reserve chairman Paul Volcker, it bans banks from using their own profits to invest.
It is considered the centrepiece of the 2010 banking reform legislation known as Dodd-Frank.
Five separate regulatory agencies must approve the rule.
Three of those agencies will hold public votes on 10 December, including the Federal Reserve, the Commodity Futures Trading Commission and the Federal Deposit Insurance Corp.
The other two regulators, the Office of the Comptroller of the Currency and the Securities and Exchange Commission, will also consider the measure in private later.
Although the Volcker rule was passed as part of the Dodd-Frank legislation in 2010, it has faced difficulties in implementation, mostly due to opposition from the banking industry.
Even if passed, the measure is not expected to be implemented until 2015.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.