Consistent reform

Nick Sawyer

The leaders of the Group of 20 nations have declared reform of the financial system must be globally consistent – a sentiment echoed by individual regulators, industry bodies and politicians. But when push comes to shove, individual countries have not desisted from going their own way.

In one of the most recent cases, President Obama revealed a proposal to prevent banks from owning, investing in or sponsoring hedge funds, private equity funds or proprietary trading operations for their own

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