Mnuchin: FSOC working on revised Volcker rule

US Treasury secretary wants revamp of prop trading ban; not repeal

US Treasury
The US Treasury department is leading an effort to revamp the Volcker rule

The Treasury Department is working with US banking and markets regulators to simplify the Volcker rule.

Treasury secretary Steven Mnuchin said the Financial Stability Oversight Council (FSOC) is co-ordinating an effort to rework the proprietary trading ban to give greater freedom to market-making desks, rather than repealing the measure in its entirety.

“With banks and regulated institutions, I don’t think that’s the place to have proprietary trading – within the regulated entity,” he said. “

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a 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 individual account here: