CFTC's Chilton: Volcker rule should be simplified

The federal regulators working on the Volcker rule should adopt something simpler than the current drafts that are 240 pages long, said Bart Chilton, a member of the Commodity Futures Trading Commission, interviewed after a panel discussion at the Milken Global Conference in Los Angeles. Former Federal Reserve Chairman Paul Volcker, after whom the rule is named, said the rule should be four pages long, Chilton said. "We need to keep the regulations simple," he said.

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