Regulators are expected to finalize many rules in 2013. The financial industry could see an overflow of final regulations, many of which are mandated by the Dodd-Frank Act.
The Dodd-Frank reform law gave agencies a deadline of July 2012 to implement the Volcker Rule, which stops banks from doing their own trading and restricts their ties with hedge funds. Because the deadline has passed, the Federal Deposit Insurance Corp., Federal Reserve Board, Office of the Comptroller of the Currency and Securities and Exchange Commission are expected to finalize their proposal early this year.
"Despite whatever flexibility the agencies allow, observers still see the rule as one of the most consequential pieces of Dodd-Frank," writes American Banker's Joe Adler.
Four mortgage rules, most of which were required by the reform law, are likely to be finalized this year as well.
Regulators are also expected to provide additional guidance on how the FDIC will finalize the remaining set of derivatives rules required by Dodd-Frank.
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