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The Volcker Rule And The Presumption Against Extraterritoriality: Utterly Incompatible, Christine P. Henry
The Volcker Rule And The Presumption Against Extraterritoriality: Utterly Incompatible, Christine P. Henry
William & Mary Business Law Review
The Volcker Rule, enacted in 2010 as part of the Dodd-Frank Wall Street Consumer Protection Act to address the too big to fail problem in todays interconnected global economy, has been controversial from the outset. The deadline for banks to comply with Volcker regulations has been extended several times, with the most recent deadline set for July 21, 2016. This Note examines the impact of the Volcker Rule on foreign banks, detailing the specific effects of Volcker regulations on two prominent German banks, Deutsche Bank and Commerzbank, and analyzes the countervailing European approach to regulating proprietary trading and risky investment. …