In an important case, a federal judge in Washington DC ruled Tuesday that the swaps provisions of the Dodd Frank Act were intended to apply extraterritrorially, rejecting a challenge by banking groups. Direct Swap applauds this important affirmation of a key aspect of the swaps regulatory framework, which will hopefully eliminate regulatory arbitrage in the markets.
"Congress has clearly indicated that the swaps provisions (in the 2010 Dodd-Frank act) apply extraterritorially," U.S. District Judge Paul Friedman said in the opinion
http://uk.reuters.com/article/2014/09/16/cftc-rules-crossborder-idUKL1N0RH16R20140916
