the “sponsorship” clause

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ironman2012

Senior Member
Chinese
Hi,

Mr.Obama said on January 21st: "Banks will no longer be allowed to own, invest or sponsor hedge funds, private-equity funds or proprietary-trading operations for their own profit unrelated to serving their customers". At first sight, the “sponsorship” clause might seem to apply to prime brokers, the bank divisions which supply hedge funds with finance, back-office and trade-execution support, investment advice, technology and a whole lot more.

(This comes from my English reading material and it seems to orginate from economist.com.)

Does the "sponsorship” clause refer to the "banks will no longer be allowed to ... sponsor..." part?

Thanks in advance!
 
  • Uncle Jack

    Senior Member
    British English
    Does the "sponsorship” clause refer to the "banks will no longer be allowed to ... sponsor..." part?
    That is how I read it, treating each of the infinitive verbs (when read with the rest of the sentence) as being a clause (which, of course, they may be in a piece of legislation).
     
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