Timothy Ryan, president and CEO of SIFMA, said large financial institutions in the industry should be supervised by a single regulator. “The biggest problem is the interconnectedness of the very big firms,” Ryan said. “That group is not as well regulated as it could be.” Ryan said the regulatory body would need to be able to help unwind troubled firms to ensure minimum disruption to healthy counterparties and other partners.
SIFMA’s Ryan urges single regulator for big financial firms
Wednesday, September 30th, 2009