NERA Vice President Dr. Sharon Brown-Hruska participated in a roundtable on the Volcker Rule (section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) in Washington, DC on 23 March 2012. Organized by the Penn Program on Regulation and Morrison & Foerster LLP, the roundtable brought together leading thinkers from law, business, government, and academia for an interactive dialogue on the key issues and challenges presented by the Volcker Rule. Implementation of the Rule will have sweeping ramifications for banking and financial markets in the US and around the world. The roundtable focused on a range of implementation issues, from defining proprietary trading to monitoring and enforcement. It also explored both intended and unintended consequences of the Rule, including its extraterritorial implications.