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Feb 26, 2014

Comparison of New EU Proposals on Proprietary Trading and Ring-fencing Against US, UK, French and German Rules

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The European Commission has published a legislative proposal that would prohibit certain large EU banks from engaging in selected types of risky proprietary trading. The proposal would also potentially require such banking groups to push out and ring-fence certain other high-risk trading activities. The UK, France and Germany have already adopted separate national ring-fencing legislation, while in the US the Volcker Rule, which bans proprietary trading, is now in final form. International banking groups will need to continue work on restructuring their businesses to comply with the overlapping and at times inconsistent sets of rules. This note summarises the key provisions of each measure.

View full memo, Comparison of New EU Proposals on Proprietary Trading and Ring-fencing Against US, UK, French and German Rules

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Bradley K. Sabel

Of Counsel

Financial Institutions Advisory & Financial Regulatory

+1 212 848 8410

+1 212 848 8410

New York

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Pierre-Nicolas Ferrand

Partner

Finance

+33 1 53 89 71 77

+33 1 53 89 71 77

Paris

Winfried M. Carli

Partner

Finance

+49 69 9711 1000

+49 69 9711 1000

Frankfurt

Kolja Stehl

Counsel

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5864

+44 20 7655 5864

+49 69 9711 1623

+49 69 9711 1623

London