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Volcker compliance-responsibility aspect splits legal opinion

Volcker rule requirements for chief executive compliance responsibility called into question

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Dwight Smith of Morrison & Foerster

The concept of personal executive responsibility for compliance with the Volcker rule could be dropped from the final rules on implementation of the US Dodd-Frank Act when they are published later this year.

The initial Treasury proposal states that a firm's chief executive must give "public attestation of compliance" with the Volcker rule, but observers disagree on whether this clause will make

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