The Obama administration is expected to unveil proposals today to boost government authority over the financial system. In addition to previously announced powers to seize troubled non-banking firms, the administration’s plan would reportedly expand federal regulation for the first time to cover financial derivatives trading, large hedge funds and insurers such as AIG. Regulators would also impose uniform standards to limit the range of functions of major financial firms, including banks.
Admin to Unveil New Finance Regulations
HeadlineMar 26, 2009