Newsletter February 09: Lack of US regulatory reform poses serious risks

WASHINGTON – Significant reforms to the US regulatory system are critically and urgently needed. The current system has significant weaknesses that, if not addressed, will continue to expose the nation’s financial system to serious risks, Gene Dodaro, acting US Comptroller General, told a Congressional committee in early February. He was giving testimony on the US financial regulatory system to the Senate Banking Committee. Several Congressional committees are currently working on regulatory reform plans, which may form the basis of legislation.