WASHINGTON-In technical terms, Congress handed regulators the baton a while ago to implement a crackdown on proprietary trading.

But as the federal agencies grapple with turning the Volcker Rule into regulation, the process seems almost like a joint effort between two branches of government.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.