By Pete Schroeder

 

WASHINGTON (Reuters) - A federal banking regulator officially opened the Volcker Rule up for review Wednesday, soliciting public comment on existing regulations as an initial step toward revising and easing them.

 

Keith Noreika, the acting U.S. Comptroller of the Currency, announced he was soliciting public comment, specifically input on how to better define what activities are prohibited by the Volcker Rule. The rule aims to bar risky profit-seeking trading by banks that have federally insured deposits.

 

The Office of the Comptroller of the Currency is one of five regulators charged with writing and enforcing the rule, a major component of the 2010 Dodd-Frank financial reform law. It is accepting comments for 45 days.

 

(Editing by Bernadette Baum)