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Critics, including the collection of nonfinancial companies, focus their complaints on the definition of proprietary trading.
The Volcker Rule's definition of proprietary trading is also open to interpretation.
But a debate has ensued on the exact definition of proprietary trading.
But the cap proposed would allow giants like Citigroup and Bank of America to remain intact, and the official definition of proprietary trading remains vague.
Noting that the definition of proprietary trading is imprecise, Wall Street says that the rule threatens to spill into legitimate practices like market-making and hedging.
The fine print, however, has yet to be worked out, and regulators are debating just how comprehensive to make the definition of proprietary.
Similar(51)
As for the definitions of proprietary trading, Mr. Barr said: "Will it require the exercise of regulatory judgment?
Trying to make highly restrictive definitions of proprietary trading will make it very easy for banks to use accounting gimmicks to move investments, position taking and proprietary income to where it is not restricted by the rule.
Yet the definition of what constitutes proprietary trading can be fuzzy.
Only the results obtained with the proprietary definition of confidence limits by InMed (InMed HELIOS assessment) were not concordant with the results from either 3 M group.
The XML standard, offering a meta-language for the definition of simple and non-proprietary data exchange standards.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com