According to a recent article, based on an analysis by Stanford Bernstein. implementation of the Volcker Rule, a part of the Dodd Frank Act, could nick profits at the eight biggest U.S. banks by $10B per annum.
Banks in the U.S. and also across the pond in Europe have paid billions in fines for various alleged misdemeanors ranging from manipulation of benchmark interest rates, money laundering, mortgage irregularities, mis-selling of financial products and so on. According to this estimate, 10 banks have been fined £130B in the 6 years to the end of 2013.
Considering banks’ role in the global financial sector, how do the above developments affect the rationale for investing in the sector?
Global financial stocks: Value trades,...
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