Financial groups favor principles-based regulations

11/26/2007 | Reuters

Key players within the financial-services industry recommended Wednesday that more principles-based rules be adopted in order to help reduce onerous regulation and ramp up U.S. competitiveness. "A shift from a rules-based approach to regulation to a more principles-based approach should provide firms with the flexibility to respond appropriately to new market developments and innovations, without compromising investor protection," SIFMA said. Read SIFMA's full comments.

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