U.S. Treasury Secretary Henry Paulson on March 31 announced that the U.S. government will conduct a comprehensive financial management system reform, its content will involve large banks, investment companies, local insurance agents and mortgage brokers, and other broad scope.
According to this reform plan, the U.S. government will ask Congress in the Ministry of Finance within the establishment of a national insurance regulatory office, the federal government began to gradually responsible for monitoring the insurance industry.
Local media said that this reform plan will be the United States at the end of the 1920s economy in the early 30 "Great Depression" has been one of the biggest financial regulatory reform.
Paulson announced the same day as long as 218 of the reform plan. He said that a strong financial system is important not only for Wall Street, but also for every American is also very important.
Under the scheme, the Government will present the five agencies responsible for the day-to-day affairs belongs banking supervision by a body responsible for, and to expand the U.S. Federal Reserve members of the regulatory authority to protect the entire financial system is stable. At the same time, the government will set up a new regulatory body, mainly the current exercise by the Securities and Exchange Commission and the Commodity Futures Trading Commission to exercise the functions, is responsible for regulating commercial activities and protect the interests of consumers.
In addition, the Government will ask Congress to establish a Federal Council, the development of mortgage brokers minimum standards for issuing licenses, to change the current number of such agents from the federal regulation of the status quo.
Ministry of Finance of the scheme have yet to be approved by the U.S. Congress to enter into force. According to reports, the Democratic Party's criticism of the scheme of reform and inadequate, and expressed dissatisfaction.
Many economists believe that the United States, loan-to-crisis is one of the reasons behind the regulatory system has not been able to finance the development of the new situation. Therefore, the end of last year in the U.S. financial regulatory system called for a thorough reform of the voice getting higher and higher.
According to this reform plan, the U.S. government will ask Congress in the Ministry of Finance within the establishment of a national insurance regulatory office, the federal government began to gradually responsible for monitoring the insurance industry.
Local media said that this reform plan will be the United States at the end of the 1920s economy in the early 30 "Great Depression" has been one of the biggest financial regulatory reform.
Paulson announced the same day as long as 218 of the reform plan. He said that a strong financial system is important not only for Wall Street, but also for every American is also very important.
Under the scheme, the Government will present the five agencies responsible for the day-to-day affairs belongs banking supervision by a body responsible for, and to expand the U.S. Federal Reserve members of the regulatory authority to protect the entire financial system is stable. At the same time, the government will set up a new regulatory body, mainly the current exercise by the Securities and Exchange Commission and the Commodity Futures Trading Commission to exercise the functions, is responsible for regulating commercial activities and protect the interests of consumers.
In addition, the Government will ask Congress to establish a Federal Council, the development of mortgage brokers minimum standards for issuing licenses, to change the current number of such agents from the federal regulation of the status quo.
Ministry of Finance of the scheme have yet to be approved by the U.S. Congress to enter into force. According to reports, the Democratic Party's criticism of the scheme of reform and inadequate, and expressed dissatisfaction.
Many economists believe that the United States, loan-to-crisis is one of the reasons behind the regulatory system has not been able to finance the development of the new situation. Therefore, the end of last year in the U.S. financial regulatory system called for a thorough reform of the voice getting higher and higher.
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