'Solely Outside the United States' Volcker Rule Exemption

, New York Law Journal

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In her International Banking column, Kathleen A. Scott of Norton Rose Fulbright writes that after two years and review of several thousand comments on the proposed rule, regulators went back to the text of, and reason for, the Volcker Rule, and in the final version crafted an exemption that the regulators believe should enable a non-U.S. bank to continue its non-U.S. proprietary trading activities without endangering its exemption for transactions taking place "solely outside the United States."

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Originally appeared in print as 'Solely Outside the United States' Volcker Rule Exemption Finalized

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