With the big reveal - and approval - of the final Volcker
Rule in December, Wall Street's anxious three-year wait for the
centrepiece of US financial reform came to an end.
As IFLR goes to press, the market reaction to the Rule's
final text is still forming. But one thing is certain. The
implementation of arguably the most controversial aspect of the
Dodd-Frank Act will mark a new era of tighter scrutiny of
investment bank trading activities.
Even so, its success depends on the progress of other
components of financial reform...