Bipartisan Policy Center Urges Consistency in Implementation of the Volcker Rule

Today, the Bipartisan Policy Center’s Financial Regulatory Reform Initiative working group on Capital Markets and the Volcker Rule sent a letter to the Treasury Department and the five federal financial regulators tasked with adopting Volcker Rule regulations. The letter responds to recent reports that the five federal financial regulators may not adopt a single, unified set of regulations.  It calls for one consistent Volcker rule and for a new public comment period for proposed regulations.

The initiative’s working group includes Professor John Coffee of Columbia Law School, Professor Jim Cox of Duke University School of Law, Annette Nazareth, a Partner at Davis Polk & Wardwell, LLP and former SEC Commissioner, and Professor Jonathan Macey of Yale Law School.

The full letter can be found here and the Bipartisan Policy Center’s press release can be found here.