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Goldman May Have Found Silver Bullet For Volcker Rule

Law360, New York (April 2, 2013, 7:32 PM EDT) -- Even though regulators have yet to finalize the so-called Volcker Rule, Goldman Sachs Group Inc. may have already found a way around the Dodd-Frank Act's ban on proprietary trading with a specialty finance company launched this week that will invest the bank's money in high-risk debt.

By setting up an independent business development company in which it will hold a minority stake and limited leverage exposures, Goldman will be able to engage in at least limited proprietary trading. And because the firm will be small enough...
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