The news at a glance

Volcker Rule set for approval; Trade gap falls as exports peak; Newsweek returning to print; BofA settles with Freddie Mac; EU levies record Libor fine

Regulators: Volcker Rule set for approval

After years of “wrestling,” stricter financial oversight may finally be in sight, said Scott Patterson in The Wall Street Journal. Federal agencies plan to vote next week on “a toughened version of the Volcker Rule, ushering in an era of stricter oversight for Wall Street with restrictions on the trading banks can do with their own money.” One key provision would require “that hedges be designed to reduce specific risks” rather than make a profit for the bank. Though the linchpin of the postcrisis Dodd-Frank legislation has been long in coming, “the rule was widely anticipated” and most banks have stopped “proprietary trading.”

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