2 of the more significant changes in the Volcker 2.0 proposal would a) give banks more latitude to trade to help clients e.g. market make b) would scrap a presumption that trading positions held for fewer than 60 days are proprietary unless a bank can prove otherwise.
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US regulators begin major easing of Volcker rule
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Jamie Dimon, chief executive of JPMorgan Chase, said in 2012 that under the Volcker rule “if you want to be trading, you have to have a lawyer and a psychiatrist sitting next to you determining what was your intent every time you did something”.
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