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Thursday, December 20, 2012

BPC Urges Consistency in Volcker Rule Implementation

The Bipartisan Policy Center (BPC) Financial Regulatory Reform Initiative’s working group on Capital Markets and the Volcker Rule sent a letter to the Treasury Department and the five federal financial regulators today, calling for another public comment period for proposed Volcker regulations and the development of one consistent Volcker rule.

The letter was in response to recent statements by SEC and CFTC senior officials that the agencies may adopt regulations different from the proposed rules of the Federal Reserve, FDIC, and OCC.
[W]e believe it is very important that the Agencies act in a coordinated manner to adopt final Volcker Rule regulations that are substantively identical and issued at the same time.

Because of the complexity of this issue and the potential value from additional public commentary, we believe that substantive changes to the proposed regulations would benefit from the same comment process.
Read the full letter.

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