GFMA Paper Detailing Extraterritoriality Issues in US and EU

5 June 2013


GFMA Paper Detailing Extraterritoriality Issues in US and EU

Download Adobe ReaderGet the free Adobe Reader to view these documents.

Change on the scale of the US Dodd-Frank legislation and the EU programme of regulatory reform brings with it a unique opportunity to build a regulatory framework that achieves significant gains in levels of protection for customers and levels of financial stability for the global economy. 

Undertaking reform on such a significant scale also risks making changes that are broader in scope than may be necessary or which are focused purely on domestic concerns or issues whilst ignoring the impacts on wider, international financial markets. This can lead to regulation that is inappropriately extraterritorial in effect and elements of regulation that diverge significantly between major financial centres. 

This GFMA paper refers to specific examples of legislation or regulation in the US and EU which illustrate the concerns to which measures are giving rise.

  • GFMA smartbrief
    Free, essential financial industry news, delivered daily.
    Sign up now.
  • Gfma weekly update
    Regulatory and legislative developments from across the globe. 
    Sign up now.
  • Global Regulatory Reform Proposals
    Side-by-side comparisons of numerous regulatory reform proposals.
      View now.
Members of the GFMA Alliance afme asifma sifma