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Chipping Away at the Volcker Rule

January 9, 2012
A big "no thanks" followed the greeting from Canada, whose financial services regulator and the country’s banking sector are pushing back against the Volcker rule.  This key element of the Dodd-Frank Reform Act, they say, would unfairly punish Canadian banks that deal closely with the US market. While the rule is designed to prevent U.S. banks from trading with their own funds and to limit investments in hedge funds and private equity firms, Canadian regulators claim it would limit their banks, as well, in managing their risks. For further details, go to:  [NYPost, Reuters, 1/6-7/12]