Tuesday, November 13

US Financial Regulatory Framework Future: More Comments

Further to my long note about the future of US regulation, seems like the market is also thinking the same! I quote:

It appears as if Europe’s got it right; the push for a regulatory model closely mirroring Europe ’s was all the rage at the annual Securities Industry and Financial Markets Association meeting.
According to MarketWatch.com, the US regulation community is simply looking for an approach that is based on principles… the same approach that UK ’s Financial Services model has used for years. Here, companies do not have to concern themselves with the constant burden of having to answer to regulatory examinations. Instead of being forced to adhere to specific rules, corporations would have the luxury of sticking to guidelines.
With more and more freedom to de-list now materializing for foreign companies, many are doing exactly that.
“Given that freedom, they are leaving,” said Hal Scott, a professor at Harvard University, who spoke of the exodus of business to foreign markets.
Also on the regulatory reform side of the fence is John Thain, chief executive at NYSE Euro next (NYX) and his counterpart at CME Group Inc. (CME), Craig Donohue, who both praise the push for such changes.

All this to be taken with a grain of piquant salt!!!

No comments: