WASHINGTON — Federal regulators have extended the comment period for a proposal to revise the Volcker Rule.
In June, the Federal Deposit Insurance Corp., Federal Reserve Board, Office of the Comptroller of the Currency and two other regulators proposed making changes to the proprietary trading ban that was enacted as a provision of the Dodd-Frank Act.
Under the proposal, Volcker Rule
However, some banks are concerned that the revisions to the rule could actually complicate compliance and limit trading. The Wall Street Journal reported last month that industry representatives had met with the Fed to share their concerns about the proposal.
The comment period was set to close on Sept. 17 but will now end a month later, on Oct. 17, in response to requests from commenters. The extension “will allow interested persons additional time to analyze the proposal and prepare their comments,” the agencies said in a release.
FDIC Chairman Jelena McWilliams had