Volcker to be implemented through trial and error, expert warns
US regulators' 'heuristic' process for implementing the Volcker rule is called into question
The implementation of the Volcker rule aspect of the US Dodd-Frank Act will be done through a trial and error process, according to one legal expert.
Charles Horn, a Washington DC-based partner at law firm Morrison & Foerster, points out that US regulators are unclear whether the data they will be collecting from institutions under the new rule will be relevant.
"The proposed rule requires the collection and reporting of large amounts of data to support banks' permitted underwriting, market
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