Investors debate merits of bond buckets as regulators revisit Volcker rule
CLOs with bond buckets could return in the US as federal agencies have signalled their willingness to roll back certain parts of the Volcker rule

Federal Reserve seeks comment on proposed Volcker rule changes
Amendments to the Volcker rule took another step forward yesterday after the Federal Reserve Board released a note requesting feedback on proposed changes to the rule

UK funds brace themselves against value-for-money ruling
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors.

They said it: regulators are using The Big Short as their frame of reference
The LMA’s Nicholas Voisey describes why it’s difficult to campaign for the European loan market

Libor has a new contender as New York Fed launches SOFR
The New York Federal Reserve has launched a benchmark US that may eventually replace Libor: the Secured Overnight Financing Rate (SOFR)

Fund industry braces for further impact after court's DOL fiduciary rule decision
The US Department of Labor (DOL) had said it will not enforce its embattled ‘fiduciary rule’ following a legal ruling last week – but one regulatory lawyer says fund industry players should nevertheless brace for several impacts of that ruling

Ares leads the way as US tax reform prompts corporate structure rethink
Ares Management has announced its conversion from a partnership tax structure to a corporation or C-Corp – and it’s likely other managers will follow suit now that US taxation law changes – the most comprehensive tax reform in more than three decades – have taken effect

Fight for US loans commences following risk retention U-turn
US CLOs are set to be free from risk retention in the next few weeks. Headache over for US CLO managers? Not really – now it becomes a fight to source the assets that will populate CLOs

Debt managers spot opportunity as Australia’s banks face inquiry
Australia’s government announced a long-anticipated royal commission into the nation’s financial services sector on 30 November – and a credit market expert says the move could be good news for debt market participants

Points up front
Legal documents related to a now defunct fund run by Carlyle a decade ago, highlight tensions between two senior portfolio managers

Leader aims to be at forefront of floating rate credit fund comeback
Floating rate credit fund launches have slowed to a dribble in the past three years after launching en masse in 2013 – but they may be due for a revival

Euro loan managers breathe easy as ECB adopts US-style lending guidelines
The ECB has, to some extent, relented and provided loan market participants with a greater degree of flexibility after this morning posting the final guidance for leveraged lending in Europe

ECB's crackdown on leveraged lending clears the way for direct lenders
Regulator's plans to limit debt to ebitda ratios in loan transactions could drive traffic out of the capital markets and towards lending funds

Law firm hires regulatory specialist from AFME in London
A well-known official at AFME has landed a new job at a law firm

CDO specialist rejoins Bank of England to focus on insurance companies
Market sources say that a securitisation specialist has rejoined the Bank of England after a one year stint at the European Banking Authority.

Competition opens up as DBRS prepares for European CLO business
Toronto-based DBRS has put all the infrastructure in place and is now ready to rate European CLOs