Bloomberg – U.S. financial regulators, taking a landmark step in the five-year effort to rein in Wall Street, decided to curb some types of trading while largely freeing chief executives from personal responsibility in the final version of the Volcker rule.
The Federal Reserve, the Federal Deposit Insurance Corp. and three other agencies are set to sign off today on the proprietary trading ban, which has been contested by Wall Street banks JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. (GS) and their industry allies for more than three years.
