A hotly anticipated proposal to revise the Volcker rule – released by US regulators on May 30 – could make it more complicated for banks to comply with the prohibition on proprietary trading, experts warn.
“Now what the regulators are saying is that any time you breach, you have to promptly notify the regulators,” says Michael Bailey, a principal in the risk and financial advisory practice at Deloitte. “The question is: what does ‘promptly’ mean? Is that end of the week, immediately, intraday?
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