Treasury Department Outlines Reforms to U.S. Financial Supervision and Regulation
On June 17, 2009, the U.S. Department of the Treasury released a proposed outline for comprehensive reform of the nation's financial system. The proposal focuses on three major initiatives: (1) broad supervision of systemically significant financial organizations, regardless of whether such organizations are affiliated with a bank; (2) expanded supervision of financial markets and (3) stronger consumer and investor protection measures. The attached memorandum provides an overview of Treasury's proposal.