参议院民主党人希望沃尔克·统治的“ JP摩根漏洞”允许投资组合受阻

In a letter to the Federal Reserve Board, the Securities and Exchange Commission, the Commodity Futures Trading Commission the Office of the Comptroller of the Currency Administrator of National Banks, and the Federal Deposit Insurance Commission, Senators Jeff Merkley (D-Ore.) and Carl Levin (D-Mich.) spoke out against what they are calling the current draft of the Volcker rule’s “JPMorgan loophole,” which they say allows for the kinds of trading activities that resulted in the investment bank’s recent massive trading loss. Merkley and Levin want the regulators to make sure that the language in October’s draft version is more stringent so that “clear bright lines” exist between legitimate activities and proprietary trading activities that should be banned (including risk-mitigating hedging and market-making).

莱文（Levin）和默克利（Merkley）既是沃尔克（Volcker）统治的主要共同赞助者及其对专有贸易的限制，该法规的最新草案忽略了“明确的立法语言和明确的国会意图声明”，并留出了“投资组合对冲”的空间。”根据法律，只要降低风险的对冲活动，只要它们的目标是将“特定风险”降低到金融公司的持股，包括合同或职位。这应该让银行通过让他们参与实际特定的树篱来降低其风险。但是，参议员争辩说，由于最后一份草案中未包括执行所必需的语言，因此即使在法律生效后，也将允许专有贸易发生的“摩根大通漏洞”（等）。他们归咎于华尔街游说者的压力。

The senators are pressing the regulators to get rid of such loopholes and put into effect a solid Volcker Rule, with stricter language, and without further delays. They noted that despite getting trillions of dollars in public bailout money, a lot of large financial firms continue to fight against the “most basic… reforms,” which is what they believe that Wall Street has been doing with its resistance to the Volcker rule. (Also in their letter, Levin and Merkley reminded the regulators that it was proprietary trading positions that resulted in billions of dollars lost during the recent economic crisis.)

SSEK Talking to Investors About JPMorgan Trading Losses
JPMorgan Chase‘s (JPM) over $2 billion loss was on a series of complex derivative trades that it claims were made to hedge economic risks. Now, according to a number of people who work at trading desks that specialize in the kind of derivatives that the financial firm used when making its trades, the financial firm’s loss has likely grown to closer than $6 billion to $7 billion.

Volcker Rule Resource Center，Sifma

More Blog Posts:

JPMorgan Chase Shareholders File Securities Lawsuits Over $2B Trading Loss, Institutional Investor Securities Blog, May 17, 2012

SEC主席玛丽·沙皮罗（Mary Schapiro）在代理商的2011年执法记录中站立//www.fchqzx.net/our-staff.html, Stockbroker Fraud Blog, March 15, 2012

Ourbob200体育证券律师are offering free case evaluations to investors affected by JPMorgan’s trading loss. ContactShepherd Smith Edwards and Kantas, LTD, LLPtoday.