Morgan Stanley (MS) is planning to reduce its stake in the FrontPoint Partners hedge fund it bought four years ago, the Wall Street Journal reported. The move comes as rival Goldman Sachs (GS) considers spinning off, winding down or moving its proprietary trading desks, the paper said. The Volcker rule, named after former Fed chief Paul Volcker (right), limits the amount of money federally insured banks can invest in riskier structures such as hedge funds and private equity investments and in trading with their own funds.
Morgan Stanley bows to Volcker
Most Popular Articles
Latest Articles
HUD aims to help protect communities from extreme heat
HUD has announced a series of individual and shared initiatives designed to help communities protect against the dangers of extreme heat.
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products
-
Realty One Group joins growing list of firms to settle commission lawsuits
-
Figure names Michael Tannenbaum as CEO
-
American Financial Resources announces two executive hires
-
Side’s Hilary Saunders discusses the evolution of brokerage models