US financial reform legislation will pass in two to two-and-a-half weeks according to Paul Volcker, and it will be the starting point for coordinating international regulation.
Speaking at the International Organisation of Securities Commissions (Iosco) conference in Montreal yesterday, Volcker described the legislation as “frequently coherent”, “constructive” and “a rallying point for other countries”.
“I am really hopeful for the first time that there is a chance of getting international acceptance on the basic principles,” he said.
Volcker puts his optimism down to...