Reuters – U.S. financial regulators have formed a working group to coordinate implementation of the Volcker rule, which bans banks from proprietary trading, top regulatory officials plan to tell lawmakers on Wednesday [Feb. 5].
The group has already met to discuss industry questions about the controversial rule and plans to meet again later this week, Securities and Exchange Commission Chair Mary Jo White said in remarks prepared for delivery during a hearing in the U.S. House of Representatives Financial Services Committee.
