Law360 Quotes Partner Merrill B. Stone on Volcker Rule

The article, ​“Simple Volcker Rule May Be Out of Reach” reviews the efforts of simplifying the ban on proprietary trading by commercial banks and quotes Merrill B. Stone, a partner in Kelley Drye’s Financial Institutions practice group.  Mr. Stone explained the calls for simplification, which also set forth ​“hard-coded” requirements.  Proponents and opponents of the rule are questioning the level of detail in information, which banks must provide to prove they were not involved in proprietary trading.  He noted there are 17 data points that banks need to provide to regulators to overcome the ​“negative presumption” that they are engaged in proprietary trading.