Volcker Rule

Are banks keeping the [good] faith? Changes and more delays expected – March 2013 This FS Regulatory Brief provides our view of (a) where banks stand right now in preparing for Volcker, (b) the timing of the final rule and what it may look like, (c) the response of foreign regulators, and most important (d) what banks should be doing now.

Here's Why Banks Don't Like the Volcker Rule The Volcker Rule would forbid banks from making bets on their own money, and former Fed chief Paul Volcker has fired back at critics of the proposed rule that bears his name. Dan Ryan, Chairman of PwC's Financial Services Regulatory Practice, discusses with Evan Newmark on Wall Street Journal's Mean Street. Watch the video >

Will the Volcker Rule Hurt Markets? PwC's Dan Ryan discusses criticism of the Volcker rule with Maria Bartiromo on CNBC's "Closing Bell." Watch Dan's interview >

Volcker Rule hearing: Continued uncertainty is the only certainty Five regulatory agency leaders discussed the Volcker Rule at a congressional hearing in January 2012. The regulators confirmed prior conclusions about the impact of the Volcker Rule and how financial services firms, insurance companies, and investment firms should prepare. Read more >

Dan Ryan, Chairman of PwC's Financial Services Regulatory Practice recently sat down for a four-part interview about the draft Volcker Rule with CNBC banking reporter, Mary Thompson. Portions of that interview aired on Squawk Box on Friday, December 16. Watch Dan Ryan's Squawk Box segment on the proposed Volcker Rule.

What complying with the Volcker Rule means for banks PwC's Dan Ryan discusses Volcker Rule compliance issues with American Banker Watch the video >

The Volcker Rule Proposal: Regulators Propose Restrictions on "Covered Funds" This A Closer Look describes the proposed prohibition on banking entities’ sponsoring, investing in, or having certain relationships with hedge funds or private equity funds. As proposed, the prohibition would extend to “covered funds,” including traditional hedge and private equity funds, as well as other funds, including certain foreign funds and commodity pools Read more >

The Volcker Rule Proposal: A focus on proprietary trading The proposed Volcker Rule would be the most far-reaching regulatory prohibition in US financial history by prohibiting proprietary trading not only in FDIC-insured institutions, but also in any affiliate regardless of its business or geographic location.

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Are you preparing for the Volcker Rule?

While the Federal Reserve Board ("The Board") recently issued a formal policy statement  clarifying the conformance period, it also stated that it expects that banking organizations  engage in "good-faith planning efforts",  to ensure that their activities will be in compliance with the final rule by no later than July 21, 2014. "The Board" noted that this "may include complying with reporting or recordkeeping requirements" during  the conformance period if such elements are included in the final rules.

How PwC can help you

Our team of professionals have or are currently engaged by a number of US and non-US banking organizations to:

• Deliver impact analysis of the  proposed rule on trading activities and strategies
• Propose strategic solutions which consider trading activities in terms of compliance requirements
• Assess capabilities for  Volcker reporting including outcomes related to quantitative metrics
• Evaluate programmatic compliance needs

Related reading

• For analysis on the Volcker Rule January 2012 congressional hearing please click here
• Click here to learn more about the proposed prohibition on banking entities’ sponsoring, investing in, or having certain relationships with hedge funds or private equity funds.
• Click here to learn more about the proprietary trading aspects of the Proposed Volcker Rule.