News Release 2012-5 | January 18, 2012
Acting Comptroller of the Currency Testifies on Volcker Rule
WASHINGTON — Acting Comptroller of the Currency John Walsh testified today before a joint hearing of two House Financial Services subcommittees on Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the Volcker Rule.
The Volcker Rule requires regulators to implement certain prohibitions and restrictions on the ability of a banking entity to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. The comment period for the proposed rule closes February 13, 2012.