Dodd-Frank And Foreign Banks — It's 'Quid Pro Quo'

Law360, New York (April 1, 2014, 7:17 PM EDT) -- Among the more noteworthy developments of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (DFA) are significantly increased regulatory requirements imposed on foreign banking organizations. Increased supervision and oversight of FBOs is based on a broad mandate from the U.S. Congress to federal financial regulators to oversee the activities and operation of foreign firms that participate in, benefit from, and pose risks to the U.S. financial system. Prudential supervision standards for FBOs with total consolidated assets of $10 billion or more, recently adopted...
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