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August 02, 2017

OCC is seeking public input on revising the final regulation implementing Section 619 of the Dodd-Frank Act (commonly known as the Volcker Rule). The agency submitted a notice to the Federal Register soliciting public input on whether certain aspects of the implementing regulation should be revised to better accomplish the aim of section 619 while decreasing the compliance burden on banking entities and fostering economic growth. Comments must be provided within 45 days of the publication of this Notice in the Federal Register.

OCC invites input on ways to tailor the rule’s requirements and clarify key provisions that define prohibited and permissible activities. The agency also seeks input on how the federal regulatory agencies could implement the existing rule more effectively without revising the regulation. The public is invited to provide supporting data that can inform specific changes to the regulation and help assess the effectiveness of implementation efforts to date. The agency is not requesting comment on changes to the underlying Volcker statute. It recognizes that any revision to the final rule or the administration of that rule must be consistent with the constraints of the statute and requests that commenters provide input that fits within the contours of that structure. 

 

Related Link: Notice on Revisions to Volcker Rule (PDF)

Keywords: Americas, United States of America, Banking, Volcker Rule, Dodd Frank Act, OCC

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