FOR IMMEDIATE RELEASE:               CONTACT: 

April 19, 2012                                       Jen Scungio, 202-457-8759

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FORUM STATEMENT ON VOLCKER RULE CONFORMANCE PERIOD CLARIFICATION ANNOUNCEMENT

WASHINGTON, D.C. — Financial Services Forum President and CEO Rob Nichols issued the following statement regarding today’s multi-agency announcement on the Volcker Rule conformance period:

“We welcome today's interagency clarification regarding compliance with Section 619 of the Dodd Frank Act.  The extended timeline will assist financial services firms and regulators in navigating the complex proposed Volcker Rule.  We look forward to working with Congress and regulators to ensure that permitted activities like legitimate market-making are not unnecessarily impacted, thus ensuring the liquidity that financial markets and the broader economy depend on.”

The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 20 of the largest and most diversified financial services institutions doing business in the United States. The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.

Follow the Forum on Twitter: http://twitter.com/fsforum

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