Dealers confident of Volcker rule exceptions

Exceptions to the rule


When laying down financial law, legislators are often accused of building Maginot Lines: regulations that can be successfully circumvented after a period of creative thinking by a team of bankers and their lawyers. Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act – or the Volcker rule as it is more popularly known – could end up meeting the same fate.

"[In October,] we sat down with our counsel and after an hour of question-and-answer, the lead counsel turned to me an

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