Federal regulators have extended the comment period for a proposal to revise the Volcker Rule.
In June, the Federal Deposit Insurance Corp., Federal Reserve Board, Office of the Comptroller of the Currency and two other regulators proposed making changes to the proprietary trading ban that was enacted as a provision of the Dodd-Frank Act.
Under the proposal, Volcker Rule compliance would be revised, the rule would be tailored for institutions that participate in fewer trading activities and the definitions of certain prohibited trades would be altered.
The comment period was set to close on September 17 but will now end a month later on October 17, in response to requests from commenters. The extension “will allow interested persons additional time to analyze the proposal and prepare their comments,” the agencies said in a release.
Read more in American Banker.