SEC expects to vote on Volcker rule soon, White says

Paul Volcker
Joshua Roberts | Bloomberg | Getty Images

U.S. securities regulators are "optimistic'' that they will be able to vote before the end of the year on a final Volcker rule to ban proprietary trading by banks, Securities and Exchange Commission Chair Mary Jo White said Tuesday.

The SEC is one of five regulators coordinating the drafting of the final Volcker rule. The three banking regulators involved are tentatively planning to vote as early as next week.

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No Volcker rule in 2013?

"If one or more of the other regulators have set Dec. 10, I would expect us to act on or about that date,'' White told reporters on the sidelines of a corporate governance conference at SEC headquarters.

—By Reuters