Filed Under:Your Practice, Regulatory

Volcker Rule Attacked

Paul Volcker (AP Photo/ Wong Maye-E)
Paul Volcker (AP Photo/ Wong Maye-E)

An official of TIAA-CREF testified before a House panel today that the proposed regulation providing a limited exemption for life insurance companies from the so-called Volcker rule is an area of concern to the industry because it does not appear to reflect legislative intent.

Scott Evans, executive vice president, TIAA-CREF president of asset management, said the problem with the proposed rule as currently structured is that it does not expressly allow the general account of an insurance company to hold an ownership interest in a so-called “covered fund.”

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Nichole Morford

Nichole Morford
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