Inside these posts: Volcker rule

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Morgan Stanley to spin off trading unit

Morgan Stanley will spin off its proprietary trading business into an independent firm in 2012, joining a host of Wall Street banks scrambling to comply with new rules that bar making market bets with their own capital. Get the full story »

Report: Wall Street firms find Volcker loophole

U.S. banks have found a way to continue betting their own money on some investments, despite a new law’s restrictions on proprietary trading, the Financial Times reported on Thursday, citing Wall Street executives. Get the full story »

Wall Street lobbying group targets ‘Volcker rule’

Wall Street’s lead lobbying group said on Monday it wants to help shape the “Volcker rule” on risky bank trading, among many other provisions, as the biggest financial reforms since the 1930s are implemented. Get the full story »

Goldman closing trading desk under reform rules

Goldman Sachs Group Inc. is closing its principal strategies desk as it works to comply with new U.S. rules on proprietary trading, Bloomberg News reported Friday.

The report, citing two people with knowledge of the decision, said Goldman would delay announcing the move as 65 to 70 members of the unit sought new jobs. Some traders and support staff could be reassigned in the firm, and a team in Asia could look to start a new hedge fund, it said. Get the full story »