Risk Japan 2011: Japan, Europe need to team up to address Dodd-Frank extraterritoriality
Speakers on a panel at Risk Japan 2011 in Tokyo on August 30 debated the effects of international regulatory developments on Japanese financial institutions. Some parties believe Japan needs to team up with Europe to push back on Dodd-Frank extraterritoriality. Meanwhile, liquidity ring-fencing rules in the UK are starting to bite
The US Dodd-Frank Act, which introduces new rules governing US financial institutions and markets aimed at making the financial system more secure, will have a significant impact on Japanese financial institutions. The worst-case scenario for Japanese banks is that their US operations will require substantially more capital and that operating units in the US will fail to receive exemptions from
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