A Current Assessment of Some Extraterritorial Impacts of The Dodd- Frank Act with Special Focus on The Volcker Rule and Derivatives Regulation

• 영문명: A Current Assessment of Some Extraterritorial Impacts of The Dodd- Frank Act with Special Focus on The Volcker Rule and Derivatives Regulation
• 발행기관: 은행법학회
• 저자명: Lawrence G. Baxter
• 간행물 정보: 『은행법연구』제5권 제2호, 3~33쪽, 전체 31쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2012.01.01

영문 초록

As the world struggles to emerge from the Global Financial Crisis the vision of a harmonious framework of global financial regulation seems as distant as ever. Important progress made by international committees such as the Basel Committee on Banking Supervision and the Financial Stability Board notwithstanding, there seem to be increasing signs of unilateral, extraterritorial action by major jurisdictions, including the United States. This paper reviews the framework created by the US financial reforms, in particular anti money laundering provisions, the Volcker Rule and the proposed OTC derivatives margin requirements, and considers some of the dilemmas presented by modern global banking and its concomitant regulation. The conclusion is that we are likely to see more regional reforms that are not necessarily uniform, and that this might not be a bad result, given the complexity of the financial markets and the need to respond flexibly to evolving circumstances.

목차

Ⅰ. Extraterritoriality in Financial Regulation

Ⅱ. Recent United States Reforms

Ⅲ. The Volcker Rule and New Derivatives Margin Requirements

Ⅳ. Political Winds in the United States

V. Dilemmas of Modern Global Banking and Financial Regulation

키워드

Global financial regulation international banking regulation financial reform extraterritoriality anti-money laundering Volcker Rule OTC derivatives regulation Dodd-Frank Act US Presidential election