Volcker Rule sets tough curbs on US banks' own trading

New US regulations released today place tight controls on banks' trading their own accounts, in an attempt to avoid the high-risk behavior that contributed to the 2008 financial crisis.
The long-awaited Volcker Rule, to come into effect on July 21, 2015, also forbids banks from owning hedge funds or so-called covered private equity funds, also with the aim of distancing them from financially risky activities.