GFMA Views on the Impact of US Extraterritorial Legislation on the Asian Markets
This GFMA letter sets out a summary of U.S. financial
regulatory measures that have recently been proposed or are in the
implementation process, which may have an extraterritorial impact on non-US
markets – particularly Asian markets. These
measures are generally mandated by the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act), enacted in 2010 by the U.S. Congress in response to the financial crisis that erupted
in the prior years.