Time to End Clash Over Dodd-Frank Extra-territoriality
By Nick Sawyer
Published May 31 2011 Risk magazine
A recent Dodd-Frank rule-making proposal from five US prudential regulators has caused a bit of a stir. People have been worried forsome time about the territorial scope of the Dodd-Frank Act, and whether global banks might find themselves subject to multiple sets of rules or whether US banks might be put at a competitive disadvantage in overseas markets. The April 12 proposal on margin requirements for non-cleared swaps confirmed their worst fears.
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