Bank Regulators Vote to Back Volcker Rule

“All five financial regulatory agencies put to a vote and approved the Volcker rule on Tuesday, ushering in a new era of tough oversight that drills to the core of Wall Street’s markets and trading businesses,” the Wall Street Journal reports.

“The rule will put in place new hurdles for banks that buy and sell securities on behalf of clients, known as market making, and will restrict compensation arrangements that encourage risky trading.”