Lawmakers consider extraterritorial impact of Dodd-Frank swaps provisions

U.S. lawmakers continue to weigh issues surrounding the potential international application of Dodd-Frank's derivatives provisions. Industry participants from the United States and overseas argue that broad application of certain transactional requirements under Title VII of the act could result in conflicting compliance obligations for some firms, and put U.S.-based companies at a competitive disadvantage in the world marketplace. On Feb. 8, experts and lawmakers on both sides of the debate discussed proposed legislation intended to limit Title VII's extraterritorial impact.