Although this summer's Dodd-Frank financial regulation bill creates new rules for banking in the U.S., top investment bank Goldman Sachs may be more worried about Europe. Its chief executive Lloyd Blankfein warned that his bank would consider leaving the region if new regulatory requirements became too burdensome. Patrick Jenkins and Megan Murphy of the Financial Times report:
But he warned that the introduction of "mismatched regulation" across different regions as officials seek to ward off another financial crisis would tempt banks to search out the cheapest, least intrusive jurisdiction in which to operate.
"Operations can be moved globally and capital can be accessed globally," he said.
Read the full story at the Financial Times.