Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, June 17, 2009

Administration Releases Plan to Reform Financial Regulation Today

President Obama willl announce the administration's plan to reform financial regulation.  Here are some previews from major newspapers:

WSJ, Draft Details New Rules for Markets

NYTimes, Obama Sought to Enlist a Wide Consensus on Finance Rules

WPost, Obama Blueprint Deepens Federal Role in Markets

The websites of the newspapers also have posted an 85-page draft of the plan.  

As described in the press reports, the plan will give the Federal Reserve additional powers over large financial institutions and will create a council of regulators to fill in regulatory gaps.  There will be a new consumer protection agency for financial instruments, which, in a significant victory for the SEC, will not include mutual funds.  The SEC and CFTC will not be merged.

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