Canadian Bank Regulator Takes Aim At Dodd-Frank

Law360, New York (January 6, 2012, 4:28 PM EST) -- Canada's financial services regulator is concerned that certain aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act will unfairly impede Canadian banks' proprietary trading operations, according to a letter to U.S. regulators made public Friday.

In a letter dated Dec. 28, the Office of the Superintendent of Financial Institutions expressed its concern that the Volcker Rule, which prohibits depository banks from participating in proprietary trading and working with hedge funds or private equity funds, would undermine foreign banks' ability to manage risk through proprietary...
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