President Obama Unveils Plan to Reshape Financial Regulation
June 22, 2009
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Last week, the White House unveiled a comprehensive Plan with a wide-ranging set of proposals and recommendations for revised regulatory standards that would apply to all financial institutions in the US.
The Plan's proposals for regulatory and supervisory changes are organized under five main objectives, and include ambitious revisions to the US banking and securities laws. Legislation and regulations implementing these proposals will need to be enacted, and translating the Plan's proposals into law may be a lengthy process involving lawmakers, industry participants and interest groups with competing interests. Therefore, a significant degree of uncertainty remains regarding the eventual outcome of the Plan's proposals.
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