Senators Push For Financial Reform
Banks Law Office salutes Oregon Senator Jeff Merkley and ten other Senators who are pressing the SEC to finish four overdue financial reforms outlined in the Dodd -Frank. Wall Street Reform and Consumer Protection Act . These reforms are designed to help prevent another financial crisis and to make markets safer for investors and the economy. A letter signed by all eleven Senators addresses the following:
- Credit rating agency reforms
- Prohibitions on financial firms betting against the securities they package
- Improved disclosure and oversight of the asset-backed securities market; and
- A joint rule-making with other agencies to limit bank compensation structures that incentivize risk
The 2008 financial crisis destroyed unsuspecting investors. Banks Law applauds and supports the Senators efforts to be sure that history cannot repeat itself. You can read the original press release here.