Wave of new regulation brings inconsistencies and loopholes
Inconsistencies in new regulations both across borders and within the regulations themselves are giving rise to concerns of regulatory arbitrage and exploitation of loopholes
The past few years have seen swathes of new regulation being drawn up in response to the financial crisis of 2008. In the US, the Dodd-Frank Wall Street Reform and Consumer Protection Act has thrown up much debate around the restriction of banks’ activities in areas such as over-the-counter (OTC) derivatives and trading activities of investment banks. In the EU, the European Markets Infrastructure
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