We won’t ban prop trading: British Lord
Britain will not clamour to adopt the Volcker rule, the set of reforms mooted by Paul Volcker, a former chairman of the Federal Reserve, and US President Barack Obama, Peter Mandelson, the UK's business secretary, said on Wednesday.
Mandelson said the Volcker rule, which seeks an outright ban on proprietary trading by bank holding companies, was too broad and would be "too difficult" to implement in a speech in New York. "It's the principles and practices of regulation you have to focus on,"
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