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Articles tagged with: Volcker Rule

AFR in the News: Banks Win More Time to Sell Private Equity Stakes (USA Today)
December 19, 2014 – 10:29 am

Americans for Financial Reform… called the Fed action disappointing and said it “raises serious questions about regulators’ intentions to properly enforce the Volcker Rule.” “Since proprietary trading can occur through the mechanism of external funds, the delay in divestment requirements for covered funds will greatly weaken the enforcement of other crucial parts of the Volcker Rule as well,” the organization said.

AFR Statement on Federal Reserve Delay of Volcker Rule Implementation
December 18, 2014 – 11:24 am
AFR Statement on Federal Reserve Delay of Volcker Rule Implementation

 
FOR IMMEDIATE RELEASE
December 18, 2014
 
Contact: Marcus Stanley
marcus@ourfinancialsecurity.org
202-466-3672
 
AFR STATEMENT ON FEDERAL RESERVE DELAY OF VOLCKER RULE IMPLEMENTATION
Today, the Federal Reserve announced that it would delay the effective implementation of a crucial part of the Volcker Rule …

AFR in the News: How Obama Can Rein in Wall Street Without Going Through Congress
July 7, 2014 – 4:25 pm

“Wall Street’s relentless lobbying campaign pressured regulators to dial down some of the reforms, but the overhaul law still has a lot of strength,” Danielle Douglas writes in the July 3rd Washington Post. Her article goes on to quote AFR policy director Marcus Stanley: “The regulators have the statutory authority,” he says. “The question is whether they are going to use that authority.”

AFR Opposes HR 4167
April 29, 2014 – 11:25 am

AFR sent a letter to members of Congress, urging them to oppose HR 4167. If enacted, this legislation would advance the interests of a few Wall Street mega-banks in weakening implementation of the Volcker Rule ban on proprietary trading.

AFR Letter Opposes HR 4167 – Do Not Create Loopholes in Volcker Rule Risk Protection
March 12, 2014 – 2:27 pm

AFR sent a letter to members of Congress, urging them to oppose HR 4167, which would exempt almost all collateralized loan obligations issued before January 14th from Volcker rule restrictions on bank sponsorship of external funds, allowing banks to continue to hold these instruments. Because managers of CLOs can buy and sell assets this would create a major loophole in Volcker rule prohibitions on proprietary trading.

Forward March: A Better-than-Expected Year in the Fight for Financial Reform
January 1, 2014 – 1:02 pm
Forward March: A Better-than-Expected Year in the Fight for Financial Reform

“Though small compared to Wall Street and the right, groups like Americans for Financial Reform and Better Markets show up extensively in the comments on the Volcker Rule. In the final rule, there are hundreds of references to the detailed comment letter the Occupy the SEC group sent…” The work of these outside groups “is a major piece of what makes solid final rules happen.”

AFR in the News: Regulators Adopt Final Volcker Rule Limits on Bank Trading
December 11, 2013 – 1:44 pm

“The strength of the rule is the scope of the compliance regime,’ said Marcus Stanley, policy director of Americans for Financial Reform. “The regulators correctly realized that most proprietary trading is hidden within supposedly innocent activities like hedging or market making.”

AFR Statement on Final Approval of Volcker Rule
December 10, 2013 – 4:19 pm
AFR Statement on Final Approval of Volcker Rule

“After years of consideration, the five agencies charged with implementing the Volcker Rule have reached agreement. This is an important step forward in financial reform. The final rule reflects hard work by champions of the rule within the regulatory agencies, the Administration, Congress, and the public-interest community… [But] today’s approval is only one step toward realizing the promise of the Volcker Rule.”