Securities Law Prof Blog

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

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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.

http://lawprofessors.typepad.com/securities/2009/06/administration-releases-plan-to-reform-financial-regulation-today.html

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