US President Donald Trump's plans to dial back the 2010 Dodd-Frank financial overhaul law and deconstruct large parts of banking regulation put in place after the financial crisis are sure to gain favour with many in the industry. But others are concerned about exactly what the new rules will look like and how they will fit  into the complex global regulatory framework.

Trump will sign executive action to scale back the Dodd-Frank law put in place following the global financial crisis, according to The Wall Street Journal. Gary Cohn, a former Goldman Sachs banker and now Trump’s White House national economic council director, told the WSJ that the changes would remove banks’ “burden” of “literally hundreds of billions of dollars or regulatory costs every year”.