June 9 (Reuters) – There is a good chance that the sweeping U.S. financial reform bill will be passed in a “reasonable form,” White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.
Regulatory News | Global Markets | Funds News | ETFs News | Private Capital
He added there is no basis yet for “business as usual” in U.S. and European financial markets, despite some economic growth over the last year.
The proposed “Volcker rule” being debated by U.S. lawmakers would ban risky proprietary trading unrelated to customers’ needs; bar them from sponsoring hedge funds and private equity funds; and limit their future growth through a new cap on market share. (Reporting by Jonathan Spicer; Editing by James Dalgleish)