Friday, 19 September 2014
Last updated 1 hour 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."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.