Banks will have another two years before they have to start abiding by the Volcker rule, which would force them to sell their stakes in private-equity and hedge-fund investments, Bloomberg's Jesse Hamilton and Cheyenne Hopkins reported earlier this month. The rule was enacted to make the financial system less vulnerable to risky investments as happened in the 2008 Great Recession. The banking industry lobbied for the delay, among other reasons, because they said having to sell their stakes quickly might force them to "accept discount prices."
Lawyer and Legal Journalist
