On May 30, 2018, the Federal Reserve Board approved a 373-page notice of proposed rulemaking that represents a first step toward simplifying and clarifying the Volcker Rule.
The other four agencies responsible for implementation are expected to approve the notice in the coming days. The linked alert memorandum provides a brief summary of our headline takeaways.
This article was republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation.