Occupy the SEC, an offshoot of the Occupy Wall Street protests, is suing financial regulators over their delay issuing the final rulemaking needed to implement the Volcker Rule.
Mandated by the Dodd-Frank Act, the rule would ban proprietary trading by federally insured commercial banks. A deluge of comment letters, and the difficulty crafting language that adequately distinguishes prohibited trading from otherwise allowable hedging, have been cited by regulators for the ongoing impasse.
