15 Sep 2017

DODD-FRANK VS. DONALD TRUMP

Does the leader of the free world really intend to take us back to the pre-crash days?

Ten years on from the biggest financial crash the world has ever seen and many are discussing how the industry has grown and changed since.

Tighter regulation has been at the forefront of these discussions.

The Dodd-Frank Act was enforced into law by Barack Obama in 2010 in response to the 2008 crash.

The regulation is designed to keep bankers on a leash and minimise various risks across the industry to prevent a similar economic meltdown from happening again.

President Trump has pledged that he will repeal Dodd-Frank to relieve tight restrictions and accelerate growth and lending.

Naturally, the claim has been met with plenty of criticism but, more significantly, fear.

Janet Yellen, the Federal Reserve chair, has rebuked the motion. In a speech at the end of August she said:

“The core reforms we have put in place have substantially boosted resilience without unduly limiting credit availability or economic growth.”

Janet continued, “Any adjustment to the regulatory framework should be modest and preserve the increase in resilience” in a financial system she said was now better able to weather future shocks.

Will the Trump-backed Wall Street calls to repeal Dodd-Frank open holes in the US financial system or is it a necessary move for growth? Only time will tell.

Whilst Dodd-Frank is certainly taking centre stage at the moment, MiFID II and RegAT haven’t taken a backseat.

We took a deep dive into the two regulatory proposals earlier this year.

READ MORE ON US REGULATION

ABOUT BSO

The company was founded in 2004 and serves the world’s largest financial institutions. BSO is a global pioneering infrastructure and connectivity provider, helping over 600 data-intensive businesses across diverse markets, including financial services, technology, energy, e-commerce, media and others. BSO owns and provides mission-critical infrastructure, including network connectivity, cloud solutions, managed services and hosting, that are specific and dedicated to each customer served.

The company’s network comprises 240+ PoPs across 33 markets, 40+ cloud on-ramps, is integrated with all major public cloud providers and connects to 75+ on-net internet exchanges and 30+ stock exchanges. The team of experts works closely with customers in order to create solutions that meet the detailed and specific needs of their business, providing the latency, resilience and security they need regardless of location.

BSO is headquartered in Ireland, and has 11 offices across the globe, including London, New York, Paris, Dubai, Hong Kong and Singapore. Access our website and find out more information: www.bso.co