Regulators put finishing touches on Volcker rule

U.S. regulators put the final touches Tuesday on broad rule changes designed to curb Wall Street risk and avoid a future financial crisis requiring a taxpayer bailout.

Named the Volcker rule after the former federal reserve chairman who helped craft the reform, Paul Volcker, the regulations prohibit banks whose deposits are backed by the government from proprietary trading - trading for their own profits.

The rules limit banks’ ability to invest in risky hedge funds and private equity ventures. The final rules exempt certain activities, including market making, underwriting and hedging, according to Fox News.

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