Bill would put the Fed in charge of the SEC

03/20/2008 | Financial Week

Rep. Vito Fossella, R-N.Y., is working on legislation that could make the Federal Reserve the top regulator for capital markets, with the SEC and other regulators reporting to the it. Additionally, the bill would likely propose a more principles-based system and may also address expenses related to the Sarbanes-Oxley Act.

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