Politics & Regulation

Volcker Rule creates rift, association says

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The greatest concern about the so-called Volcker Rule is the ‘potentially disparate’ treatment between US mutual funds and UCITS funds, according to European Fund and Asset Management Association.

The association has now published its response to the US financial regulatory authorities’ consultation on draft implementing measures of the Volcker Rule, which is officially known as Section 619 of the Dodd Frank Act.

Peter de Proft from EFAMA

EFAMA’s 24-page response states: “US mutual funds are not considered to be ‘covered funds’ under the proposed rules, while their regulated European counterparts appear to be treated as