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The Commodity Futures Trading Commission voted by a narrow margin to recommend ending its own regulatory jurisdiction over leverage.
If conventional banks face regulatory limits on leverage while shadow banks do not, the former will be at a competitive disadvantage to the latter.
The appeals court decision last year in the Business Roundtable case gives dissenting voices, whether from inside or outside regulatory agencies, more leverage to influence the negotiations that shape rules.
Where possible, the plan should leverage regulatory requirements to drive a business change agenda.
The point of the New Glass-Steagall Act is to complement other measures in place or under consideration, including much higher capital requirements (both in the Brown-Vitter proposed legislation and in the new regulatory cap on leverage now under consideration), the Volcker Rule, and efforts to bring greater transparency to derivatives.
I have developed a system for high-throughput characterization of RNA and protein levels from thousands of regulatory elements by leveraging next-generation sequencing, high-throughput DNA synthesis, and fluorescence activated cell sorting (FACS).
But regulatory lapses and excess leverage throughout the system, he says, contributed as well.
Marketplaces that generate sizable revenues for local governments have some leverage in regulatory negotiations.
The court concluded that the commission had improperly sought to leverage its regulatory oversight role to overcome restrictions in the bankruptcy code.
What's more, a regulatory focus on gross leverage positions may make it harder for Deutsche to stay in the top three of fixed-income traders.
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