An end to the Volcker Rule, part of the US Dodd-Frank Act, could drive flows into alternative assets in Asia. But a return to pre-2008 levels of investment by US banks is seen as unlikely.
Yang Qiumei’s international experience and relationships will be crucial to her role as head of the fund-focused regulatory trade body’s new Hong Kong office.
Some of the planned new laws in the US will be quite easy to comply with. Others, such as the Volcker Rule, require corporate masochism as firms sever appendages.