U.S. rejects Canada's claim that Volcker rule violates NAFTA

May 14, 2015 4:16 PM

60 0

NEW YORK May 14 The White House has dismissed the Canadian government's claim that a ban on some proprietary trading on Wall Street violates a free-trade agreement, saying it has the legal right to protect its financial system.

The U.S. response came after Canadian Finance Minister Joe Oliver said on Wednesday that the so-called Volcker rule's ban on U.S. banks' use of their own money to trade Canadian government bonds probably did not comply with the North American Free Trade Agreement.

Read more

To category page

Loading...