BNY Mellon's Kurt Woetzel, CEO, Global Collateral Services, and Jonathan Spirgel, Executive Vice President, Global Collateral Services, discuss how regulations are evolving around the globe. Whether it's Dodd-Frank or EMIR, or new regulations are changing the ways our clients execute and collateralize transactions. A readiness checklist asks "Are you ready to meet increased collateral requirements?"
Given the authority granted to the Financial Stability Oversight Council and the Federal Reserve by the Dodd-Frank Act, these regulators have been provided with a broad brushstroke to implement financial reform. With the intention of creating a stronger and more stable money market, the impact will most likely be increased oversight, further reporting requirements and more stringent guidelines designed to reduce potential systemic risk by a nonbank financial company.
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