Advisers say single financial regulator not the answer

03/23/2009 | InvestmentNews (free registration)

While most financial advisers agree that the banking system needs a new regulatory structure, they say that they don't believe a lone "financial-stability regulator" is the way to go, according to this article. "We definitely need [a new regulatory structure]. If we had better regulation, you wouldn't have the [Bernard] Madoff and [Allen] Stanford situations," said Jack Thurman, president of BKD Wealth Advisors of Springfield, Mo., which manages $1 billion in assets. Other advisers, however, said they're not sure new regulation is needed.

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