SEC approves capital rules

Regulatory Update

The new rules were created in response to the EU Financial Conglomerates Directive, which would have forced US investment banks to ring-fence their European operations if the SEC didn’t introduce a consolidated supervisory framework for the firms. In an exclusive interview, an SEC official said it was important to realise that "the rules were initiated for the US, and not Europe, but they are good enough for Europe. Firms not affiliated to a consolidated supervised entity, that do not adopt our

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