Paulson , the US treasury secretary and a former
chairman, is expected to make a landmark speech today calling for a rethink
of the way in which the US regulates its capital markets.
According to the FT
Paulson will lay out the challenges for US regulators caused by rapid
financial innovation and growing international competition.
Paulson will argue that these changes require a significant restructuring of
the way regulation operates in the US. He will ask whether the US strikes the
balance between protecting investors and placing too much strain on business.
Paulson’s speech comes at a time when New York is concerned that its tough
regulatory approach means that it is losing out to the more flexible,
principles-based regulation in London.
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