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May 29, 2007
Financial competitiveness - part 8
From this morning's Financial Times -- Spitzer moves to update Wall St regulation:
Eliot Spitzer, New York governor, is to form a top-level panel of Wall Street chief executives, lawyers, consumer groups and regulators to modernise financial services regulation in the state.
Chaired by Eric Dinallo, the New York insurance superintendent, the group will seek to keep New York competitive with London by streamlining and modernising regulation without sacrificing the state’s tradition of strong investor protection.
The focus will be to rationalise state regulation of insurance companies, state-chartered banks and securities dealers and perhaps serve as a model for other states and the federal government.
Given Spitzer's record on investor and consumer protection, this effort may have the credibility to actually get something done -- and, I hope, determine what are the real issues.
Posted by Ken Jarboe at May 29, 2007 9:21 AM
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