BusinessBusinesscftc gary gensler

Volcker Rule Draft Nearing Completion, Gensler Says

Controversial Wall Street Reform Rule Nearing Completion
Reuters
Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, July 30, 2013. U.S. banks' ownership and trading of physical commodities faced further scrutiny today when the heads of the CFTC and Securities and Exchange Commission testified before lawmakers. Photographer: Andrew Harrer/Bloomberg via Getty Images
Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, July 30, 2013. U.S. banks' ownership and trading of physical commodities faced further scrutiny today when the heads of the CFTC and Securities and Exchange Commission testified before lawmakers. Photographer: Andrew Harrer/Bloomberg via Getty Images

By Douwe Miedema

NEW YORK, Nov 18 (Reuters) - The head of the U.S. swaps regulator said on Monday he would share a draft of the Volcker rule with others in the agency, a sign that one of the most controversial pieces of post-crisis Wall Street reform is nearing completion.

"There's still significant work among the agencies on the preamble and possibly the rule text, but I feel that we're far enough along that I want to provide my fellow commissioners with the document," said Gary Gensler, chairman of the Commodity Futures Trading Commission.

Speaking at an industry event, Gensler said that he hoped to share a so-called "pens-down" version of the text - which means that agency staff have stopped amending it - with other CFTC commissioners on Tuesday. (Reporting by Douwe Miedema; Editing by Gerald E. McCormick)

Related

Businesscftc gary genslervolcker rulereuters

Before You Go

11. Journalists

11 Professions Less Trusted Than Bankers

|
Submit a tip

Popular in the Community

Close

What's Hot