BPI has filed a comment letter with the federal regulators in response to their request for comments on a notice of proposed rulemaking to simplify and tailor the compliance requirements of the 2013 regulation implementing the so-called “Volcker Rule” provisions of the Dodd-Frank Act. The proposed amendments to the regulation were largely intended to clarify what activities are prohibited, and to focus the most stringent compliance requirements on banking institutions with the largest trading operations. BPI supports a number of agencies’ proposed reforms and commended the agencies on their efforts to simplify and tailor the regulation in order to increase efficiency, reduce compliance burdens, and allow banking entities to more efficiently provide services to clients, the comment letter noted that elements of the proposed rule would unnecessarily restrict the ability of banks to conduct traditional commercial banking businesses and asset-liability management activities that have long been regarded as promoting the safety and soundness of banking entities.
BPI Files Comment Letter on Proposed Volcker Rule Amendments
