Key takeaways

• On Wednesday, the Office of the Comptroller of the Currency sought public comment on how to revise the final regulations implementing the Volcker Rule and the approach to administering those regulations. The OCC’s request for public input has a 45-day comment period.
• Over the past few months, various commenters have stressed the need for changes to the Volcker Rule regulations. The OCC’s request for comment is the first tangible step by an implementing agency to revise the rule.
• We expect further actions from the other agencies in the near term and that the regulations ultimately will be streamlined to facilitate customer-facing businesses and activities and reduce compliance burdens that are not necessary to further the policy objectives of the rule.