Apart from the strategic implications, the Volcker Rule will require banks' non-US businesses to strengthen governance arrangements, update operational functions and implement a new compliance programme once the bank has identified all affected areas of the business. Here are some examples of the areas that could require changes by 21 July 2012.
Front line controls
Data and reporting
Policies and procedures
PwC has worked with clients to determine whether their activities are captured by the Volcker Rule requirements and to analyse gaps between their current arrangements and the Volcker Rule requirements. Speak to one of our experts to find out what parts of your business will be affected.