Tarullo admits Volcker rule may be ‘too complicated’

Fed governor Daniel Tarullo
Fed governor Daniel Tarullo
Italian embassy/Flickr

Daniel Tarullo, the outgoing Federal Reserve governor, believes there is a “fairly strong” case for amending elements of post-crisis regulation in the US, most notably the Volcker rule.

In his final speech as governor, delivered on April 4, Tarullo said the Volcker rule should probably be simplified. The rule stipulates that insured deposit-taking firms are not allowed to engage in proprietary trading – simple enough in theory, but not necessarily in execution.

“Several years of experience

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