Non-US banks stunned by Volcker compliance regime

Non-US banks stunned by Volcker compliance regime

Scott Cammarn

Non-US banks that have a US branch will be allowed to engage in proprietary trading under the proposed Volcker rule text – but the exemption comes at the cost of a sprawling compliance regime that would, among other things, require each bank to provide US regulators with a list of every trader in the organisation, documenting the scope of his or her trading activity. Foreign banks are struggling to digest the implications.

“We were stunned when the rule came out. We had no idea it would contain

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: