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Rewrite of Volcker Rule Begins

Agencies decide at a private FSOC meeting to begin revising the rule.

By Ben Bain and Jesse Hamilton, Bloomberg | Updated on August 02, 2017

Wall Street regulators have agreed to rewrite the Volcker Rule, according to three people familiar with the matter, moving to loosen industry-despised restrictions that were central to the U.S. response to the financial crisis.

The five agencies that wrote the original limits on banks investing with their own capital have decided to begin working together on a revision, said the people, who requested anonymity because the discussions aren’t public. The changes discussed at a closed-door meeting on Friday will likely give big banks more flexibility for handling client trades, as well as investments in private equity and hedge funds.

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