As more voices in Washington push for substantial regulatory
changes in the US financial services area, Commodity Futures
Trading Commission (CFTC) chairman Rueben Jeffery continued to
promote the agency's principles-based app-roach to regulation
as a shining example to follow.
Congress and others, including treasury secretary Henry
Paulson, have recently called for changes to corporate
governance rules and the regulatory regime, primarily at
Securities and Exchange Commission, which would allow for more
competitive US capital markets. The concern among many is that
current rules and regulations, which emerged after last
century's Great Depression, are antiquated and restrictive on
companies and even securities exchanges. Jeffery said CFTC
could serve as an example for other markets in terms of its
principles-based approach to regulation, which is more flexible
and nimble than current securities rules and regulations.
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