The US Treasury recently outlined a laundry list of changes they’d like to see in the oversight of US capital markets. Regulatory bodies have jurisdiction over much of what the US Treasury is proposing, and have the wherewithal and the votes to move these changes forward. Since the passage of Dodd-Frank in 2010, every time a Republican proposed a Dodd-Frank replacement in Congress, or a Republican regulator proposed a new, sensible rule, I barely paid attention. I read the headlines,...

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