Volcker Rule to hit non-US fund sales

In its present form, the Volcker Rule will have a wide-ranging but unplanned impact on the sale of mutual funds outside the US, which Asia-based firms should be more aware of, says ICI Global. The London-based investment industry body – currently on a visit to Asia – is working with the US authorities to try to resolve the issue, says Dan Waters, managing director of ICI Global in London. The Volcker Rule was introduced with the aim of preventing banks from engaging in excessive…