Regulators working on the Volcker rule should adopt something simpler than drafts that are 240 pages long, Bart Chilton, a member of the Commodity Futures Trading Commission, said at the Milken Institute Global Conference. Former Federal Reserve Chairman Paul Volcker, after whom the rule is named, thinks the rule should be four pages long, Mr. Chilton said. "We need to keep the regulations simple," he said.

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