Plenty of Talent to Go Around
Published September 13 2011 Markets Media
More traders are leaving their jobs in the bulge bracket and starting up their own hedge funds thanks to regulation. The effects of the Dodd-Frank Act are finally being felt throughout the financial world as star traders and entire desks collect their gatherings and head elsewhere in hopes of a higher paycheck and less regulatory scrutiny. The Volcker Rule, embedded within Dodd-Frank, effectively shut down most proprietary trading and market making units within banks and limited the amount of investments banks could make in third-party hedge funds.
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