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News Item: ni0109-13

  • December 10, 2013

    Gensler's Last-Minute Gamble Pays Off

    Vote Finalizing a Toughened Volcker Rule Almost Didn't Happen

    By Andrew Ackerman

    WASHINGTON—Tuesday's vote finalizing a toughened Volcker rule barring banks from making risky bets with their own money marks one of Gary Gensler's final acts as chairman of the Commodity Futures Trading Commission.

    It almost didn't happen.

    As recently as last month, bank regulators considered finalizing the rule without the blessing of the CFTC. The agency had pushed for 11th-hour changes ahead of a year-end deadline to finalize the regulation, requests that irritated some fellow regulators by threatening to upend or delay implementation, according to people familiar with the matter.

    Read Full Article on Wall Street Journal. (Subscription required)

    Last Updated: December 30, 2013



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