Countries are working to implement global standards to reduce risks in financial markets, but differences in the way rules are adopted and enforced could be problematic, market participants said. Regulatory arbitrage is a concern. Financial institutions are also worried that the most talented executives and traders will move to the least strict areas. "Dodd-Frank will really work if the rest of the world follows the bulk of what we do here [in the U.S.]," said IntercontinentalExchange CEO Jeffrey Sprecher.
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