After flooding regulators with over 15,000 comment letters
last year, the market was hoping for a more flexible Volcker
Rule. All indications suggest that will not be the case.
Recent trading blunders most notably the so-called
London Whale losses at JP Morgan and Democratic
victories in November suggest the final proprietary trading ban
will be at least as stringent as the proposal. The final rule
is, however, expected to be crafted more clearly, so financial
institutions will have...