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US comptroller Otting approves changes to Volcker Rule on speculative investments

( August 20, 2019, 15:11 GMT | Official Statement) -- MLex Summary: US Comptroller of the Currency Joseph Otting signed a final rule amending the Volcker Rule that he said would simplify the rule while maintaining protections of the federal banking system. “We have made substantial progress eliminating ineffective complexity and addressing aspects of the rule that restrict responsible banking activity based on our experience with the rule," the regulator said in a statement. The Volcker Rule restricts federally insured US banks from making speculative investments with their own money.Statement follows in full....

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