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 WASHINGTON (AP) - The Bush administration plans to review the government's regulatory system for financial institutions with the goal of making changes to better reflect modern markets.
Treasury Secretary Henry Paulson said Wednesday the review, which will be conducted by officials at his department, will examine the system for all companies that provide financial services. The blueprint for recommended changes will be released early next year, he said.
"To maintain our capital markets' leadership, we need a modern regulatory structure complemented by market leaders embracing best practices," Paulson said in a statement announcing the review. "The steps we are announcing today will help to strengthen our global competitiveness."
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