Principal CEO McCaughan says Volcker rule could be useful

04/28/2010 | Bloomberg

James McCaughan, CEO of Principal Global Investors, said that the Volcker rule, which would prohibit banks from owning hedge funds and private-equity funds, would help ease a perceived conflict of interest. "Running their own funds does appear to be a conflict with their clients and that makes me uneasy," McCaughan said at the Milken Institute Global Conference.

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