With little fanfare, in early August the acting head of the OCC published a request for public comment regarding implementation of the Volcker Rule. Responses are due by September 18, 2017.
The Office of the Comptroller of the Currency (OCC) is seeking public input on revising the final regulation implementing section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (Volcker Rule). The agency today sent to the Federal Register for publication a notice that solicits public input on whether certain aspects of the implementing regulation should be revised to better accomplish the purposes of section 619 while decreasing the compliance burden on banking entities and fostering economic growth. In particular, the OCC invites input on ways to tailor the rule’s requirements and clarify key provisions that define prohibited and permissible activities. The agency also seeks input on how the federal regulatory agencies could implement the existing rule more effectively without revising the regulation.