Newsletter May 09: SEC head pitches for key role in new US regs system

WASHINGTON – Mary Schapiro, head of the US Exchange and Securities Commission (SEC), has made a strong pitch for her agency to be kept intact and given a major role in the expected re-design of the country’s regulatory structure. In a speech in early May, Schapiro set out the main elements, from her viewpoint, of the architecture of a new system. This centres on four distinct areas of regulation: markets for investment capital; banking institutions; systemic risk; and the resolution of troubled institutions.