Keep close eye on US, investment advisers told
Monday 28th February 2011, 2:30PM GMT.
Daniel Feather, Ernst & Young partner in capital markets, one of the speakers at the Dodd-Frank seminar. 1099251
INVESTMENT advisers working with US investors need to keep a close eye on the standards required to meet the Dodd-Frank Act legislation, an Ernst & Young seminar audience has heard.
The act, which was signed into law by President Barack Obama in July, has brought about the most comprehensive package of financial reform legislation ever seen in the US, with its impact going way beyond only America.
It also affects those financial institutions outside the US which have significant operations in the country, as well as those with only a small presence, or relationship, with business in the country.
The seminar heard from Daniel Feather, Ernst & Young partner in capital markets, and senior managers Purvi Domadia and Gurdip Sandhu.
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The easy answer is dont have any scepos for clients. Lloyds of London syndicates learned this years ago. They are from another planet and apply completely assymetrical standards as to how they expect to be treated and how they go into markets outside the US.
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