Banks shift traders to asset-management units as Volcker rule looms

04/3/2012 | Reuters

As regulators, lawmakers and others debate the proposed Volcker rule, investment banks are shifting some of their proprietary traders into their risk-management divisions. "You can't be a principal engaged in proprietary trading," said Donald Lamson, a lawyer at Shearman and Sterling. But "you can sell strategies to your clients, so if you have people who have certain trading skill sets to keep them active, you can have them face clients and sell those strategies."

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