The financial regulatory system desperately needs modernizing, and they have to get it right.
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U.S. Treasury Secretary Henry Paulson knows his sweeping plan to overhaul the financial regulatory system is going nowhere soon.
Lawmakers on Capitol Hill are drafting substantive revisions for the financial regulatory system.
What better way for lawmakers to demonstrate their resolve to reform the financial regulatory system than to go after Goldman?
Adding to these concerns is the lack of transparency that many regulators and consumers alike feel plagues the financial regulatory system.
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Part of that foundation has to be a financial regulatory system that ensures we never face a crisis like this again.
Geithner came the closest, saying the financial regulatory system needs to be overhauled to include capital and liquidity "shock absorbers" for the most important market actors.
Lawmakers are furiously trying to find common ground on a bill that will reduce foreclosures, and earlier this week, Paulson unveiled a lofty plan to overhaul the nation's financial regulatory system.
During that hearing, on April 3, Geithner provided lawmakers with a clear explanation of how the deal unfolded, a defense of the Fed's action and an outline of the reforms that the U.S. should undertake in drafting a new financial regulatory system.
One prominent supplier of money market and mutual fund data Pete Crane, of Crane Data, says that both the Securities and Exchange Commission and the broader financial regulatory system are deadlocked on the issue of how, if at all, the industry ought to be reformed.
This ought to be part of a broader overhaul of a financial regulatory system that everyone knows is a mess: we have seven agencies overseeing banking, securities and futures and they still allowed the banks to behave like lunatics and failed to spot Bernie Madoff's Ponzi scheme.
Under the auspices of the Financial Stability Board, more than 30 recommendations have been set out as part of a massive and far-reaching G-20 financial regulatory reform package to ostensibly minimize risk in the financial system and maximize consumer protection.
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Last week BofA CEO Brian Moynihan said that the charge is a necessary evil given the new regulatory framework in the financial system.
We're still going to have to make sure that we've got a regulatory structure -- a regulatory architecture for the financial system that prevents crises like this from occurring again.
"They have established a very high-quality regulatory system in the Dubai Financial Center, " says Bijur.
However, loading down the world's financial system with a heavy new regulatory burden makes little sense.
This partially offsets the mark-to-market drain on regulatory capital and helps hold the financial system together.
In part he believes that the problem is economic institutions: regulatory barriers to entrepreneurship, a financial system that favours insiders, and a high level of input from labour, which tends to be biased towards the status quo.
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All of which is perhaps to point out that the terms of the debate about how to sanitise the bloated financial system have been set by a regulatory community whose legitimacy should perhaps have been destroyed but which still seems (amazingly?) to be in loco parentis.
It said this could help restore public confidence in the financial sector and the system whereby the Bank of England, the Treasury and the Financial Services Authority share regulatory responsibility.
They've lost their job because we had a risky financial system of which the President wants financial regulatory reform to lay down rules of the road so it never happens again.
Those of us who would like to help you avoid financial pitfalls are fighting an uphill battle where the legal and regulatory system is often a hindrance.
He is an arbitrator for the Financial Industries Regulatory Authority and a mediator in the New York court system, and is the author of The Origins of Business, Money and Markets, just published by Columbia Business School Publishing.
He is an arbitrator for the Financial Industries Regulatory Authority and a mediator in the New York court system, and is the author of The Origins of Business, Money and Markets, which will be published in June by Columbia Business School Publishing.
The Senate passed a financial regulatory bill Thursday evening that would be the most sweeping reform of the banking system since the 1930s.
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To curb risks to the financial system, Mr Dodd would create a Financial Stability Oversight Council composed of regulatory chiefs who can designate any big financial firm as systemically important.
We can't afford -- no pun intended and for whatever many reasons -- to go back to a regulatory system that we had in place that led to the type of financial collapse that required the taxpayers to become involved.
Unfortunately the whole point of financial regulatory reform was to improve access to credit for the middle class and to fix the banking system so the economy can rebound.
Under a shake-up of the U.K.'s regulatory system, the FSA will be disbanded in April and its responsibilities split between the Financial Conduct Authority and the Prudential Regulation Authority, supervising banks' financial health.
As emerging economies increasingly integrate with the western world and open up their economies, these countries will need to restructure their financial institutions and institute regulatory norms in line with global guidelines, for instance by adopting Basel Guidelines for their banking system.
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