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
Indiana senator explains his inquiries into reverse mortgages
Sen. Mike Braun offered insights into his recent letter to Ginnie Mae and the potential need for more scrutiny of the HECM and HMBS programs.