Volcker Rule - Comment Letter - HSBC Bank USA - February 13, 2012

From Markets Reform Wiki
Revision as of 22:12, 14 July 2015 by ColinAshburn (talk | contribs) (Text replace - "<div id="pagefloat"> <div class="content"> <div class="headerimage">File:mrw_links.png‎</div>" to "<div id="pagefloat"> <div class="content"> <div class="headerimage">link=Navigation Portal</div> <div cl)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

Volcker Rule
February 13, 2012

HSBC “urges the Agencies to reconsider the extraterritorial reach of the Proposed Rule by making the following changes:

  • expanding the ‘solely outside the United States’ exemption so that proprietary trading activities of non-U.S. banks that do not result in additional risk being added to the U.S. financial system fall outside the scope of the Volcker Rule
  • extending the exemption for proprietary trading in U.S. government obligations to cover non-U.S. government obligations, state and municipal agency obligations and derivatives on each of these categories of securities
  • broadening the scope of the Proposed Rule’s exemptions for market making, risk-mitigating hedging, customer facilitation and other permitted activities”


<references />

MarketsReformWiki Sponsors

RSM US LLP ADM Investor Services Cinnober Fidessa