Volcker rule to pummel US energy industry: IHS
Named after former US Federal Reserve chairman Paul Volcker, the rule was included in the Dodd-Frank Act and is aimed at limiting the kind of risky behaviour that contributed to the 2008 crisis. It bans banks from engaging in proprietary trading, the practice of trading their own money, rather than customers' money. Wall Street has pushed back hard against the rule, arguing that the ban on prop trading will also limit their ability to make markets and provide liquidity to clients.
IHS, the
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