Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
33Activity
P. 1
Occupy the SEC Comment Letter on the Volcker Rule

Occupy the SEC Comment Letter on the Volcker Rule

Ratings: (0)|Views: 135,315 |Likes:
Published by occupytheSEC
Occupy the SEC has submitted the following 325 page letter to the SEC, FDIC, the Federal Reserve and the OCC, to comment on the notice of proposed rulemaking for the Volcker Rule ("Prohibitions and Restrictions on Proprietary Trading and Certain Interests in and Relationships With, Hedge Funds and Private Equity Funds").
Occupy the SEC has submitted the following 325 page letter to the SEC, FDIC, the Federal Reserve and the OCC, to comment on the notice of proposed rulemaking for the Volcker Rule ("Prohibitions and Restrictions on Proprietary Trading and Certain Interests in and Relationships With, Hedge Funds and Private Equity Funds").

More info:

Published by: occupytheSEC on Feb 13, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

02/21/2014

pdf

text

original

 
 
Ammz~t phj ]JM
hpp~7!!rrr&ammz~tphj}jm&a|b
 
Gefze|t 5=# <>5<Ljf ]& Lj|fefkjMhed|oefIj`j|ec \j}j|yj Lae|`<>ph ]p|jjp ef` Maf}pdpzpdaf Eyjfzj# F&R&Re}hdfbpaf# @&M& <>::5Oe|pdf G& B|zjflj|bEmpdfb Mhed|oefIj`j|ec @j~a}dp Df}z|efmj Ma|~a|epdaf::> 52ph ]p|jjp# F&R&Re}hdfbpaf# @&M& <>0<4Oe|t ]mhe~d|aMhed|oef]jmz|dpdj} Jxmhefbj Maood}}daf5>> I ]p|jjp# F&J&Re}hdfbpaf# @&M& <>:04Gahf Rec}hEmpdfb Mao~p|accj| ai phj Mz||jfmtAiidmj ai Mao~p|accj| ai phj Mz||jfmt<:> J ]p|jjp# ]&R&Re}hdfbpaf# @&M& <><54
\j7 ^|ahdldpdaf} ef` \j}p|dmpdaf} af ^|a~|djpe|t P|e`dfb ef` Mj|pedf Dfpj|j}p}df ef` \jcepdaf}hd~} Rdph# Hj`bj Izf`} ef` ^|dyepj Juzdpt Izf`}(\DF 5::2/E@00; \DF 25>> E@ 8<; \DF =>90/E@8:; \DF =<=:/EC>2$
 @je| ]d|} ef` Oe`eo7Ammz~t phj ]JM
5
}zlodp} phd} maoojfp cjppj| df |j}~af}j pa phj elayj/ojfpdafj` |jbzcepa|tebjfmdj}— (–Ebjfmdj}‟$ fapdmj ai ^|a~a}j` \zcjoekdfb (–F^\‟# –^|a~a}j` \zcj‟$
<
 do~cjojfpdfb ]jmpdaf 954 ai phj @a``/I|efk Emp (–phj Emp‟$&
=
 Ammz~t phj ]JM d} e b|az~ ai mafmj|fj` mdpdwjf}# empdyd}p}# ef` idfefmdec ~|aij}}dafec} rdph`jme`j} ai maccjmpdyj jx~j|djfmj ra|kdfb ep oeft ai phj ce|bj}p idfefmdec id|o} df phj df`z}p|t&Pabjphj|# rj oekj z~ e ye}p e||et ai }~jmdecd}p}# dfmcz`dfb p|e`j|}# uzefpdpepdyj efect}p}#mao~cdefmj aiidmj|}# ef` pjmhfacabt ef` |d}k efect}p}& Cdkj ozmh ai phj 44*# rj heyj lefk `j~a}dp} ef` |jpd|jojfp emmazfp} phep e|j df fjj` ai ~|apjmpdaf ph|azbh ydba|az} jfia|mjojfp ai 
5
Ammz~t phj ]JM (hpp~7!!ammz~tphj}jm&a|b$ d} e b|az~ rdphdf phj Fjr Ta|k/le}j` Ammz~t Recc ]p|jjp (–AR]‟$ ~|apj}p oayjojfp& Phd} cjppj| |j~|j}jfp} phj a~dfdaf ai az| b|az~—} ojolj|}# ef` `aj} fap |j~|j}jfp phj ydjr~adfp}ai AR] e} e rhacj& Az| ojolj|} dfmcz`j Ek}hep Pjre|t# Ecjxd} Bac`}pjdf# Ma|cjt Odccj|# Bja|bj Ledcjt# MedpcdfKcdfj# Jcdweljph K& I|dj`|dmh# J|dm Petca|# ef` aphj|}&
<
^|ahdldpdaf} ef` \j}p|dmpdaf} af ^|a~|djpe|t P|e`dfb ef` Mj|pedf Dfpj|j}p} df# ef` \jcepdaf}hd~} rdph# Hj`bj Izf`}ef` ^|dyepj Juzdpt Izf`}# 29 Ij`& \jb& 98#809 (~|a~a}j` Fay& 2# <>55$ [hj|jdfeipj| F^\ a| ^|a~a}j` \zcj_&
=
5< Z&]&M& ¢ 58:5 (<>55$&
 
 
Ammz~t phj ]JM
hpp~7!!rrr&ammz~tphj}jm&a|b
 
<phj Yacmkj| \zcj& Az| jx~j|djfmj} ra|kdfb df}d`j phj idfefmdec df`z}p|t heyj dfia|oj` az| ef}rj|} pa phj uzj}pdaf} ~|a~a}j`# oekdfb z} rjcc/}zdpj` pa zf`j|}pef` ef` efpdmd~epj har phj ~|a~a}j` do~cjojfpepdaf# }hazc` dp }pef`# rdcc eiijmp z} ef` phj |j}p ai phj bjfj|ec ~zlcdm&Phj Zfdpj` ]pepj} e}~d|j} pa `joam|emt# lzp fa p|zj `joam|emt d} eppedfelcj rhjf phj ~|amj}} d}`jpj|odfj` lt jmafaodm ~arj|&
0
Emma|`dfbct# Ammz~t phj ]JM d} `jcdbhpj` pa ~e|pdmd~epj df phj ~zlcdm maoojfp ~|amj}} ia| phj do~cjojfpepdaf ai ]jmpdaf 954 ai phj @a``/I|efk Emp lt phj]JM# Ij`j|ec \j}j|yj# AMM ef` I@DM (–phj Ebjfmdj}‟$& Phd} mazfp|t—} bayj|fdfb ~|dfmd~cj} ai p|ef}~e|jfmt ef` `zj ~|amj}} oef`epj phep eft |zcj} do~cjojfpj` lt az| |jbzcepa|} mao~a|prdph phj `joam|epdmecct/jcjmpj` cjbd}cepz|j—} dfpjfpdaf pa ~|apjmp phj ~ja~cj i|ao phj rd`j}~|je` lefkdfb elz}j} ef` jxmj}}j} ai phj |jmjfp ~e}p& Rj ljcdjyj phj Yacmkj| \zcj d} do~a|pefp pa phjizpz|j ai phj lefkdfb df`z}p|t ef`# di }p|afbct jfia|mj`# rdcc hjc~ oayj az| idfefmdec }t}pjo df eoa|j ied|# p|ef}~e|jfp# ef` }z}pedfelcj `d|jmpdaf& ^|ahdldpdfb lefkdfb jfpdpdj} i|ao jfbebdfb df ~|a~|djpe|t p|e`dfb ef` leffdfb phjd| }~af}a|}hd~ ai mayj|j` izf`} e|j kjt jcjojfp} pa|jbzcepdfb phj idfefmdec }t}pjo ef` bdydfb ia|mj pa phj @a``/I|efk Emp& Ep dp} ma|j# phj Yacmkj| \zcj }jjk} pa oekj }z|j phep di e lefkdfb jfpdpt iedc}# dp `aj} fap l|dfb `arf phj rhacj }t}pjordph dp& Rj e~~|jmdepj phj oaojfpaz} mheccjfbj} phep phj Ebjfmdj} mafpdfzj pa iemj dfjiijmpdyjct do~cjojfpdfb phj \zcj# ef` rj ~|j}jfp phj}j maoojfp} pa e}}d}p phjo df phjd| pe}k&Phd} cjppj| mafpedf} e }zooe|t ai az| ~a}dpdaf}&
 Effjxz|j E
hj|jpa mafpedf} oa|j `jpedcj`ef}rj|} pa <00 ai phj =4: uzj}pdaf} e}kj` lt phj Ebjfmdj}& Eft uzj}pdaf} phep |joedfzfef}rj|j` df
 Effjxz|j E
}hazc` lj dfpj|~|jpj` lt phj Ebjfmdj} e} az| }zbbj}pdaf phep phje~~cdmelcj ~|ayd}daf df phj ^|a~a}j` \zcj |joedf zfmhefbj`&
 Effjxz|j L
mafpedf} e ~|a~a}j`oe|kz~ ai ye|daz} }jmpdaf} ai phj Pjxp ai phj ^|a~a}j` \zcj# ef`
 Effjxz|j M 
mafpedf} e ~|a~a}j` oe|kz~ ai phj Maoojfpe|t \jbe|`dfb D`jfpdidmepdaf ai ^j|odppj` Oe|kjp Oekdfb” \jcepj` Empdydpdj}# rhdmh e~~je|j` e} E~~jf`dx L pa phj ^|a~a}j` \zcj&
0
Ammz~t Recc ]p|jjp# @jmce|epdaf ai phj Ammz~epdaf ai Fjr Ta|k Mdpt (<>55$#hpp~7!!rrr&ftmbe&fjp!|j}az|mj}!`jmce|epdaf!&
 
 
Ammz~t phj ]JM
hpp~7!!rrr&ammz~tphj}jm&a|b
 
=D& DFP\A@ZMPA\T MAOOJFP]^|a~|djpe|t p|e`dfb lt ce|bj/}mecj lefk} re} e ~|dfmd~ec mez}j ai phj |jmjfp idfefmdec m|d}d}#
:
ef`#di cjip zfmhjmkj`# dp he} phj ~apjfpdec pa mez}j jyjf ra|}j m|d}j} df phj izpz|j& Df phj ra|`} ai e lefkdfb df}d`j|# Odmhejc Oe``jf# e ia|oj| Cjhoef L|aphj|} jxjmzpdyj7^|a~|djpe|t p|e`dfb ~cetj` e ldb |acj df oefziempz|dfb phj M@A} ef` aphj| df}p|zojfp} phep rj|j ep phj hje|p ai phj idfefmdec m|d}d}& & & & Di id|o} rj|jf—p elcjpa lzt z~ phj ~e|p} ai phj}j `jec} phep razc`f—p }jcc & & & phj beoj razc` heyj}pa~~j` e cap }aafj|&
9
 Phj dfpj|maffjmpj`fj}} ai lefk} zf`j| phj }he`ar lefkdfb }t}pjo he` phj jiijmp ai oebfditdfbafj lefk—} ~|a~|djpe|t p|e`dfb ca}}j} (j&b&# Cjhoef L|aphj|}$ ef` p|ef}ij||dfb phjo em|a}} phjoe|kjp e} e rhacj& Calltd}p}— jxha|pepdaf} faprdph}pef`dfb# ~|a~|djpe|t p|e`dfb lt bayj|fojfp/ lemk}pa~~j` lefk} d} e izf`eojfpecct }~jmzcepdyj ef` |d}kt ~hjfaojfaf phep oz}p ljmd|mzo}m|dlj`&@z|dfb phj cjbd}cepdyj ~|amj}}# phj Yacmkj| \zcj re} rajizcct jfijjlcj` lt phj e``dpdaf ai fzoj|az} caa~hacj} ef` jxmj~pdaf}& Phj lefkdfb callt jxj|pj` dfa|`dfepj dficzjfmj afMafb|j}} ef` }zmmjj`j` df `dczpdfb phj }pepzpj# `j}~dpj phj mepe}p|a~hdm iedcz|j} phep lefk ~acdmdj}heyj ~|a`zmj` ef` mafpdfzj pa ~|a`zmj&
2
 Fjyj|phjcj}}# phj Yacmkj| \zcj# df dp} mz||jfp }pepzpa|tia|o }pdcc he} phj ~apjfpdec pa |jdf df mj|pedf }~jmzcepdyj p|e`dfb ~|empdmj} lt lefkdfb jfpdpdj} phepjfgat |je`t emmj}} pa mz}paoj| `j~a}dp} ef` yd|pzecct cdodpcj}} izf`dfb ph|azbh ye|daz} Ij`j|ec\j}j|yj ~|ab|eo}& Rj jfmaz|ebj phj Ebjfmdj} pa }pef` }p|afb ebedf}p phj icaa` ai `j|jbzcepa|t ~|j}}z|j phep phjt heyj ef` rdcc mafpdfzj pa iemj df maffjmpdaf rdph phjd| do~cjojfpepdaf ai phjYacmkj| \zcj& E ydba|az}ct do~cjojfpj` ef` jfia|mj` Yacmkj| \zcj razc` }j|yj e} df}z|efmjebedf}p phj fjj` ia| izpz|j lefk ledcazp} izf`j` lt pex~etj|}&
8
Phj Ebjfmdj} oz}p pekje`yefpebj ai phd} hd}pa|dm a~~a|pzfdpt pa ~|apjmp phj idfefmdec ~a}dpdaf ai phj eyj|ebj ~j|}afcdydfb df phj Zfdpj` ]pepj}&
:
 
]jj# j&b&
# Gjii Oj|kcjt# Z&]& ]jfepa| ef` Me|c Cjydf# Z&]& ]jfepa|#
Oekdfb phj @a``‐I|efk Emp \j}p|dmpdaf} af& ^|a~|djpe|t P|e`dfb ) Maf﬌dmp} ai Dfpj|j}p Ra|k 
# \aa}jyjcp Df}pdpzpj#
eyedcelcj ep 
hpp~7!!rrr&|aa}jyjcpdf}pdpzpj&a|b!}dpj}!ecc!idcj}!RdccQDpQRa|kQ^|a~|djpe|tQP|e`dfb&~`i& Phd} ydjr he} ljjf jmhaj`em|a}} eme`jode& Ia| df}pefmj# Gj|jot Lj|kardpw# e idfefmj ~|aij}}a| ep phj Zfdyj|}dpt ai Haz}paf fapj` phep –[p_a emj|pedf jxpjfp# ~|a~|djpe|t p|e`dfb re} phj kjt `|dydfb ia|mj phep re} ljhdf` phj `d}e}pj|& Ia| rhepjyj| phj |je}af#Cjhoef ef` aphj| lefk} `jmd`j` pa pekj ~a}dpdaf} df oa|pbebj}# ef` rhjf pha}j ~a}dpdaf} rjfp }azph# }a `d` phjid|o}&‟ ]pj~hjf Bef`jc#
 D} ^|a~|djpe|t P|e`dfb Paa Rdc` ia| Recc ]p|jjp1
# Pdoj# Ijl& :# <>5>#
eyedcelcj ep 
 hpp~7!!rrr&pdoj&mao!pdoj!lz}dfj}}!e|pdmcj!>#8:44#549>:9:#>>&hpoc-dxww5kzdemZK 
& ]jj ec}a
Bj|ec` J~}pjdf# PhjYacmkj| \zcj7 \zcj Do~cjojfpepdaf D}}zj} ef` ]pz`t Bzd`j# ]EIJ\ ^acdmt L|dji (Amp& 0# <>5>$ (–E~~|a~|depj#ia|mjizc do~cjojfpepdaf ai phj}j ~|ayd}daf} d} m|zmdec ia| hjc~dfb pa eyad` izpz|j jmafaodm m|d}d}&‟$&
9
Bef`jc#
 }z~|e
fapj :&
2
 
]jj
Ammz~t Recc ]p|jjp#
 }z~|e
fapj 0&
8
5:9 Mafb& \jm& ]:84= (`edct j`& Gzct 5:# <>5>$ (}pepjojfp ai ]jf& Maf|e`$&

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->