SocGen Exec: Regulatory Conflict Causing Confusion at Banks
Much of the problem stems from the US regulators ─ primarily the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) ─ defining US entities as being subject to Dodd-Frank rules, regardless of where transactions occur or the home nations of the counterparties concerned.
"For a quick example, at Société Générale, a French bank, by following US regulations, I'm going to break the law in France in January," explained Stéphane Malrait, managing director and
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