What are some of the improvements that we are thinking about that would be possible within the regulation itself? As an initial matter, it should be clearer and more transparent what is subject to the Volcker rule’s implementing regulation and what is not. The definition of key terms like “proprietary trading” and “covered fund” should be as simple and clear as possible.
As a meeting place for Montréal’s business elite, a great many frank discussions must have taken place in its early days about the stock market bubble, the Crash of ’29 and the ensuing Great Depression.