Another financial scandal?

http://online.wsj.com/article/SB123457038088986331.html

Webercom:

Notice this firm controls (and obviously probably hides) a lot of their funds off shore.
Question: Are there any downsides to requiring all financial institutions that offer products in US to retain assets sufficient to cover their liabilities here in the US, where they could be regularly checked by US regulators? More generally, while I understand and support globalization, what are the economic downsides to requiring all firms of any type that operate here (in the world's largest market) to have significant financial relationships with US based banks?

Will run this by some more knowledgeable folks....