In a Bond Buyer article on the approval of the Volcker rule, BDA CEO Mike Nicholas says, “BDA’s members continue to review the final rule for all of its implications for investors, with an eye toward the delicate balance that must be struck between liquidity in the fixed income market and investor protections,” Nicholas said. “So far, we can say that a key BDA recommendation has been addressed as in a significant improvement over the proposed rule, the final rule ensures that all state and local government securities are excluded from the proprietary trading ban, not just general obligation bonds. We commend the regulators for taking this step to ensure that liquidity in the municipal securities market is not unduly impaired.”
View the full article here.
