High risk traders are moved by the banks ahead of U.S. rule
Posted on: Apr 03, 2012 |
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The U.S banks or the banks with U.S subsidiaries are going to be banned from betting shareholders capital, which are also known as proprietary trading. This is done to fix the regulators limit some of the risk-taking actions that led to financial crisis of the year 2008. However, they can still operate evade fund strategies only if they decide to replace their own assets with third party cash within the next two years.
Among the top three namely, Citi, JP Morgan and UBS have decided to let their enduring proprietary traders run customer’s money by shifting them to asset management. But the negative effect of this was that big shots like Morgan Stanley and Goldman Sachs, which are the top players in the property trading, have already shut down their respective units. Some say this method is one of the smartest ways of logical use of the talent. |
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