Douglas Landy, partner in Milbank, Tweed, Hadley & McCloy's Leveraged Finance Group, provides commentary in a recent Wall Street Journal article titled "The Morning Risk Report: When Regulators Reach Beyond Their Borders."
He mentions that, "banks have always had to duck and weave" in response to international laws, though they have to do more of it now than ever before. Mostly, he said, it's a "huge headache" in which "doing the right thing in the right place at the right time becomes more complicated." As regulators push beyond geographic limits, there is also the risk that an institution can’t please the regulators fighting to regulate it, so it will face the nettlesome decision of choosing to comply with one rather than another.
