Much ado about trading

FIVE years is the length of a modern British Parliament and one of Stalin’s economic plans. And apparently, it is the time needed to bring in a new American financial regulation. When the Dodd-Frank Act was passed in 2010, the so-called Volcker rule was seen as one of its key provisions. But the rule only formally became operative on July 21st this year.The pertinent clause of the Dodd-Frank Act amounts to all of 165 words (with the key points covered in 40). Two activities are banned:...

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