SEC’s Peirce Doesn’t Expect Full Repeal as Volcker Amendments Move Forward
SEC's Peirce Doesn’t Expect Full Repeal as Volcker Amendments Move Forward

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce said in a statement that it was “unlikely that we will see the repeal of the Volcker Act at any time in the reasonably near future,” according to a statement released by the SEC.

Peirce ultimately supported the proposed amendments, saying they "reflect a serious attempt to grapple with some of the challenges that the Volcker rule presents to banking entities."

The SEC became the last agency to agree to amend the Volcker Rule on Tuesday, June 5, by opening the proposed changes for public comment for 60 days. The proposed changes would ease several current requirements of Volcker Rule.

SFIG will submit comments via our Volcker Task Force during the 60-day comment period. SFIG met with key regulators on Tuesday, April 24, to discuss our policy recommendations on the Volcker Rule and also submitted comments to the Office of the Comptroller of the Currency in September 2017 in response to the request for public input on the final rule. If you wish to participate in our Volcker Task Force, please contact Michael.Williams@sfindustry.org.

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