Depending on the point of view, President Barack Obama and former Federal Reserve Chairman Paul Volcker have either kick-started the effort to reform financial regulation or thrown the global financial sector and broader economy into chaos, according to Financial Times. Either way, the "Obama levy" and the "Volcker rule" have gotten the attention of bankers, regulators, policymakers and market participants worldwide. While debate about those proposals as well as others continues, most bankers and regulators agree that change is inevitable.

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