Big banks and broker-dealers are seeking changes to the Volcker rule that will make it easier for them to comply with its requirements and still allow them to execute for their clients.
After the U.S. Securities and Exchange Commission received more than 15,000 comment letters asking for revisions and clarification, the proposed Volcker rule will likely be delayed from its July 21 deadline, although no official announcement has been made. The brokers want changes to the rule's language regarding what are permissible market-making activities as well as what metrics are to be used to measure compliance.
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