- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Federal Reserve is “considering broad revisions to the Volcker rule compliance regime,” in addition to changes to make the rule easier to understand and less burdensome, says Vice Chairman for Supervision Randal Quarles.
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On the heels of new legislation targeting reach of the Volcker rule to small- and medium-sized financial institutions, the Fed has announced its own plan for streamlining the Dodd-Frank Act’s regulatory centerpiece.
Since the day the Dodd-Frank Act was passed nearly a decade ago, the Volcker rule has been a burr under the saddle for Republicans. Now, their complaints are a lot closer to having a remedy, with plans to ease the rule’s burden on community banks.
Democratic presidential nominee Joe Biden is no lock to win the presidency on Nov. 3. But it’s worth examining what compliance-related regulatory policies he’d support if he wins.
