Friday, March 21, 2008
Arthur Levitt, former SEC Chair, calls for regulatory reforms in a Wall St. Journal op-ed piece, including:
Beyond these immediate fixes, what's needed to restore public confidence is a more wholesale reconsideration of how we can inject greater transparency into the markets and bring about a change in attitude on the part of business leaders and policy makers that puts the interests of investors first. This may require a more fundamental restructuring of how we regulate the markets -- for instance, merging the SEC and the Commodities Futures Trading Commission to create a single securities regulator -- and giving that regulator the resources and the authority to do its job, something the SEC currently lacks.
WSJ, Regulatory Underkill.