CFTC's Sommers and O'Malia attack 'unworkable' Volcker rule

cftc-hq
CFTC chairman Gary Gensler

The US Commodity Futures Trading Commission's (CFTC) version of the Volcker rule was attacked yesterday by two of the regulator's own commissioners, who characterised the agency's text as unworkable, too complex and unenforceable.

The proposals were discussed during a four-hour meeting in Washington, DC, after being approved by a three-two vote in which the two Republican-appointed commissioners voted against their Democrat-appointed colleagues.

The Volcker rule is required by section 619 of the

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: