Wall Street reforms – benchmark for the EU?
Banks and financial companies in the U.S. face extensive reforms as lawmakers overhaul financial rules.
President Barack Obama explains the contents of the reform below.
The reforms are likely to change the prerequisites for EU legislation on derivatives and other financial instruments, which is due this autumn. The question now is – will the EU harmonise its new rules with those of the U.S.? Or will we end up in a situation where EU banks are universal and U.S. banks restrained? And what will this mean for the global financial system?
NFU will closely follow the issue and keep you updated, so stay tuned!