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Regulators extend comment period for Volcker rule changes

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Regulators extend comment period for Volcker rule changes

The Federal Reserve and four other regulators are extending the comment period for public feedback on their proposed overhaul of the Volcker rule.

The new deadline for comments will be Oct. 17, a month later than the initial date, the regulators said.

The Volcker rule, part of the Dodd-Frank banking regulation law, prohibits proprietary trading at U.S. banks and restricts their investments in hedge funds and private equity firms.

The Fed, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Securities and Exchange Commission and the Commodity Futures Trading Commission released a joint proposal May 30 that would overhaul how the agencies enforce the rule.