Spring 2014 Edition

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    IMPLEMENTING VOLCKER: who sets the standards for compliance and reporting?

    After a lengthy development period, the Volcker rule (section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) finally hit the regulatory statute books on December 10, 2013. Prior to finalization, many banks had already started work to meet the anticipated requirements for compliance. In this article, Chris Collins, Ted Harvey and Alpa Rajai discuss the real-world challenges associated with Volkerís conformance and reporting requirements and propose some immediate actions that firms can consider as they work to comply with this long-anticipated regulation. Volcker, like many recent regulatory initiatives, is aimed as much at driving changes to culture [...]