NU Online News Service, Nov. 9, 3:38 p.m. EST
Investment activities of insurers are "fundamentally different from the types of activities that are targeted by the so-called 'Volcker Rule' on proprietary trading," officials of the Property Casualty Insurers Association of America (PCI) said in a comment letter to federal authorities.
As a result, the letter states, regulators "must avoid interpreting the rule in a manner that inappropriately sweeps insurance investments into the prohibition," the letter said.
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