Re: Volcker Rule
One reason for delay is all the complexity added to the regulation. When the Volcker Rule was crafted by namesake Paul Volcker it was simply stated as a ban on proprietary trading by banks. But a lot has been added on. As you can see from Daniel's article, although market making is exempt, brokers that conduct agency trading on behalf of institutional clients, and end up with a "residual position" need to prove this is not a proprietary position or a hedge. So brokers need automated monitoring solutions and analytics that track their residual positions to ensure they are not mistaken for proprietary trades.