Requests public input as it prepares steps to keep US markets from losing ground in global economy
The US Department of the Treasury has requested for public input as it prepares a blueprint for an improved U.S. financial regulatory structure.
Secretary Paulson first announced his plans to review and recommend improvements to the regulatory structure in June as part of his initiative to strengthen U.S. financial markets' ability to compete in the global economy.
The blueprint, set for release early next year, will seek a more effective regulatory structure that can adapt to the U.S. marketplace while improving oversight. Treasury believes it is important to continue to evaluate the regulatory structure to consider ways to improve efficiency, reduce overlap, strengthen consumer and investor protection and ensure that financial institutions have the ability to keep pace with evolving markets.
The department's review of the financial regulatory structure will focus on all types of financial institutions: commercial banks and other insured depository institutions; insurance companies; securities firms; futures firms; and other types of financial intermediaries.
Treasury asks for public comments on topics including overlapping state and federal regulation, ways to improve market discipline and consumer protection, the strengths and weaknesses of having multiple regulators and multiple federal charters for financial institutions, as well as other issues.