Copy of the proposed 'Volcker Rule' - an addition to the Dodd-Frank Act that would prohibit banks for participating in certain kinds of speculating trading and investing. Due to be implemented July, 2012.
"In formulating the proposed rule, the Agencies have attempted to reflect the structure of section 13 of the BHC Act, which is to prohibit a banking entity from engaging in proprietary trading or acquiring or retaining an ownership interest in, or having certain relationships with, a covered fund, while permitting such entities to continue to provide client-oriented financial services. However, the delineation of what constitutes a prohibited or permitted activity under section 13 of the BHC Act often involves subtle distinctions that are difficult both to describe comprehensively within regulation and to evaluate in practice…"
Document includes instructions for the public on how to submit comments on the proposed Volcker Rule; comments due by January 13, 2012.