- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
July 21 was a big day for banks and the beginning of the Volcker Rule’s compliance regime. The rule, a cornerstone of the Dodd-Frank Act, prohibits proprietary trading activities at federally insured banks. In our latest podcast, we talk to Chris Scarpati, a partner in PwC’s financial regulation practice about what the deadline entailed and what’s ahead for these financial institutions.
Listen to the Podcast. (8 min., 7 MB)
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Compliance Week accepts outside contributions from corporate chief compliance officers and other senior-level GRC practitioners. To learn more, contact the CW Editor.
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.
While members of the Trump Administration wave off persistent critics, rule changes are starting to take root, notably for the Volcker rule.
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
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