Loophole weakens proposed "Volcker rule," insider says

06/13/2010 | Bloomberg Businessweek

The "Volcker rule," a provision lawmakers are considering that would ban banks from conducting proprietary trading, would not prevent financial institutions from taking risks with private derivatives as long as the transactions are initiated by clients. "The market-making exemption provides a pretty big loophole," said Brian Yelvington, head of fixed-income strategy at Knight Libertas.

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