The Financial Regulation Forum
proprietary trading
Treating proprietary traders like hedge funds
15 May. The central aim of the financial overhaul proposed by the former Federal Reserve chief Paul Volcker was quite simple: Let’s stop banks from behaving like hedge funds. But turning a main piece of this noble goal — ending proprietary trading — into a workable framework is proving devilish. Yet, there may be a [...]
Heading off the next financial crisis – put a tax on finance
The blunt, sweeping rule that has received the most attention over the past year is the Volcker Rule. Named for the former Fed chairman and Obama adviser who has been pushing it, the rule would, among other things, prohibit traditional banks from engaging in proprietary trading — the buying and selling of stocks or other [...]
Mandelson on America’s unilateral financial reforms
Peter Mandelson, the UK Business Secretary, criticised America’s unilateral financial reforms as misguided and insisted that Britain would be the key driver of the global regulatory overhaul. Mandelson in a speech he said Barack Obama’s proposals to ban proprietary trading and limit banks’ liabilities “came as a bit of a surprise” to those working on [...]
Snippet: Obama offers bill to restrict big banks
05 Mar. The Obama administration put forward legislation on Wednesday to rein in the size and scope of US largest banks. But the proposal faces strong resistance in Congress, where lawmakers have shown little appetite for adding to the prolonged debate on overhauling financial regulations. The legislation would ban banks that take federally insured deposits [...]
The Obama banking plan explained
US President Barack Obama recently announced perhaps his most controversial and populist action; new taxes on banks and restrictions on proprietary trading. This new phase stems not from a crisis in banks, but the opposite; a quick rebound of global banking profits. This has precipitated a new problem for banks; a political problem based on [...]
Snippet: Obama tackles US financial institutions
22 Jan. Obama called for curbs on the size and trading activities of US financial institutions, to reduce risk taking and avert another financial crisis. The proposals will be part of an overhaul of regulations, and prohibit banks from running proprietary trading operations or investing in hedge funds and private equity funds. “While the financial [...]
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