+------------------------------------------------------------------------------+
German Law to Split Investment Banks Needs Adjustments, BdB Says 2014-01-15 12:34:39.898 GMT
By Nicholas Comfort Jan. 15 (Bloomberg) -- Planned German law calling on banks to separate some investment-banking activities from retail and corporate banking ops requires adjustments, says Michael Kemmer, general manager of BdB Association of German Banks. * “There’s some work to be done on the issue of secured lending with hedge funds,” Kemmer tells reporters in Berlin * “We see the risk that certain very client-oriented business like share or bond sales may be affected if the work with hedge funds in this business is no longer possible” * German plan should be aligned with schedule of EU’s split proposal: Kemmer * NOTE Jan. 6: EU Lawmakers Dismiss Barnier’s Bank-Structure Overhaul Proposals NSN MYZMYD6JTSES <GO>
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
To contact the reporter on this story: Nicholas Comfort in Frankfurt at +49-69-92041-213 or ncomfort1@bloomberg.net
To contact the editor responsible for this story: Frank Connelly at +33-1-5365-5063 or fconnelly@bloomberg.net