Implications of the Dodd-Frank Act for Non-US Banking Organizations, Securities Firms, and Other Financial Companies

Implications of the Dodd-Frank Act for Non-US Banking Organizations, Securities Firms, and Other Financial Companies

Arnold & Porter LLP

The Dodd-Frank Wall Street Reform and Consumer Protection Act represents the most sweeping overhaul of the US financial sector since the Great Depression. The Act will impact both the US and non-US business and activities of foreign banks, securities firms, and other financial companies in a number of significant ways-directly and indirectly. Due to the scope of the US regulatory restructuring mandated by the Act, there will be global implications. While the Act may impose additional burdens on non-US financial institutions, it may also present opportunities for foreign financial institutions as well.

In this session, our panel of attorneys will explore a number of areas of interest to non-US institutions, including:

·         How foreign banks and nonbank financial companies will be treated under the systemic risk provisions of the Act;

·         Changes to the US regulatory structure that will directly impact US operations of non-US banks and securities firms;

·         What the new regulatory treatment of over-the-counter derivatives (including foreign exchange products) will mean for non-US banks and securities firms;

·         The Volcker Rule's impact on trading and private equity and hedge fund activities of non-US banks; and

·         Important changes to US securities laws, including the impact on the use of SEC Rule 15a-6, foreign adviser registration and expanded "foreign cubed" civil liability.

Listen to the Arnold & Porter Podcast, Implications of the Dodd-Frank Act for Non-US Banking Organizations, Securities Firms, and Other Financial Companies