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Banks push US Fed to delay Volcker Rule: WSJ

Banks are lobbying U.S. policy makers for a delay of up to seven years from a provision requiring them to sell investments in private-equity and venture-capital funds, the Wall Street Journal reported, citing people familiar with the matter. Bank officials, trade groups and lawmakers are quietly pressing the Federal Reserve for a multiyear delay of the rule that limits their investments in private-equity and venture-capital funds, the Journal said.   Via

Madoff Ponzi Scheme Surfaces New Guilty Verdict

A former MIT professor and his son agreed to plead guilty to running a $500 million hedge-fund scam that was uncovered by investigators probing Bernard Madoff’s Ponzi scheme. Bloombrg’s Christie Smythe reports on “In The Loop.”   Via Bloomberg

SEC starts alternative mutual funds examination

The US Securities and Exchange Commission (SEC) has reportedly started a broad examination of alternative mutual funds that are offered to small investors. Sources with the knowledge of matter were quoted by The Wall Street Journal as saying that the agency would examine BlackRock and AQR Capital Management, as well as other smaller firms that earlier did not offer mutual funds.   Via BBR


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