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Fed seeks comments on proposed Volcker Rule compliance requirement changes

( May 30, 2018, 20:24 GMT | Official Statement) -- MLex Summary:  The US Federal Reserve Board said in a news release that it is seeking comment on a proposed change to alter compliance requirements relating to the Volcker Rule, which generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds. "The agencies responsible for implementing the rule see many opportunities to simplify it and improve it in ways that will allow firms to conduct appropriate activities without undue burden and without sacrificing safety and soundness," Chairman Jerome H. Powell said in the release. "The proposal will address some of the uncertainty and complexity that now make it difficult for firms to know how best to comply, and for supervisors to know that they are in compliance."Statement follows:...

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