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External Meetings: Meeting with Goldman Sachs on Extraterritoriality
Dan M. Berkovitz, Terry Arbit, Mark Fajfar, David Aron
Ken Connolly, Tom Riggs, Steve Bunkin (telephone)
Participants discussed extraterritorial application of Dodd-Frank to US entities operating in foreign jurisdictions. Representatives from Goldman Sachs advocated that US entities operating in foreign jurisdictions should be treated no differently from foreign entities with respect to application of Dodd-Frank requirements; otherwise foreign entities would have a significant unfair competitive advantage over US businesses operating in foreign jurisdictions.