SEC Likely to Vote on Volcker Behind Closed Doors


The U.S. Securities and Exchange Commission will not likely hold a public meeting when it votes to adopt the Volcker rule to ban proprietary trading, SEC Chair Mary Jo White said Thursday.

Speaking with reporters on the sidelines of an event at SEC headquarters, White said she expects to carry out the vote behind closed doors in a process known as "seriatim."

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Many of the other regulators working on the rule with the SEC, by contrast, plan to vote on the Volcker rule in open public forums on Dec. 10.

People familiar with the matter previously told Reuters the SEC has been grappling with scheduling problems, as two SEC commissioners will be traveling next week.