Wall Street Lobby Groups Seek To Loosen Volcker's Grasp

Law360, New York (January 13, 2014, 5:58 PM EST) -- A number of Wall Street lobby groups are asking regulators to tweak a provision of the Volcker Rule to allow banks to own certain collateralized loan obligation debt securities issued by financial firms, including hedge funds and private equity funds, the groups said Monday.

Banks should be able to buy and hold on to interests in CLO debt securities issued by financial firms without being considered as having an “ownership” in the issuing firm, industry groups including the Financial Services Roundtable and the Securities Industry and Financial...
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