CAPITAL MARKETS CLIENT ALERT: How Dodd-Frank and Other New U.S. Laws May Affect Non-U.S. Financial Institutions

    View Author 8 October 2010
    One surprising and significant outgrowth of the 2008 financial crisis is that the United States is more aggressively asserting jurisdiction over non-U.S. financial institutions, even where the activities of such companies take place entirely outside the U.S. Given the potentially severe financial penalties for violations of these new laws, non-U.S. financial firms should remain cognizant of the extraterritorial reach of the recently-enacted Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA or Dodd-Frank) and the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (Iran Sanctions Act or ISA).