Thursday, 27 November 2014
Last updated 21 hours ago
Jan 12 2012 | 5:07am ET
The Commodity Futures Trading Commission has finally acted on the Volcker rule, proposing a new regulation that would ban banks from trading their own capital and severely restrict their investments in alternative assets.
The CFTC voted, along party lines, to propose the measure. The regulator's rule is similar to a joint rule proposed last year by the Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Securities and Exchange Commission. Those four regulators extended their comment period on that proposal until next month in an effort to coordinate with the CFTC, whose own proposal is subject to a 60-day comment period.
"I think our role here is important, it's significant, but it's actually just a supporting member," Chairman Gary Gensler said. "The bank regulators have the lead role."
Scott O'Malia, one of the two dissenting Republicans on the panel, disagreed, calling the rule "so bad it really merits re-proposal."
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...