Friday, 27 March 2015
Last updated 22 min ago
Jun 24 2010 | 12:00pm ET
The fate and form of the Volcker rule is one of only two unresolved issues in the massive U.S. financial regulation overhaul, as lawmakers work to get a final bill to President Barack Obama by July 4.
“Everything is in play right now as I’m trying to pull this together,” Sen. Christopher Dodd (D-Conn.) said of the talks over the Volcker rule, which could bar banks from the alternative investments industry and from proprietary trading.
Senators and representatives are trying to iron out the differences between the reform bills passed by each house of Congress. The 42-member committee is awaiting changes to the Volcker rule expected to be proposed by Dodd.
It is possible that the ban on sponsoring and investing in hedge funds could be weakened or done away with, leaving the rule barring only proprietary trading and owning hedge and private equity funds. Sen. Scott Brown (R-Mass.) is also pushing for an exemption from the rule for custody banks.
In exchange, Dodd may propose tougher language to eliminate the wiggle room granted to regulators under the current language of the rule.
Derivatives oversight is the other outstanding issue in the conference talks.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…