WASHINGTON — As the two chambers of Congress begin to hammer out a single financial regulatory reform bill over the next several weeks, industry groups have mixed views about a provision in the Senate bill that would prohibit banks from engaging in proprietary trading but exclude municipal, Treasury and federal agency securities from the ban.
“The Regional Bond Dealers Association is supportive of this exemption and would encourage Senate language to come out of the conference agreement,” said Michael Nicholas, RBDA’s chief executive officer, referring to the lawmakers from both chambers that are expected to be named this week to resolve differences between the Senate and House language.
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