Tuesday, June 16, 2009

Regulation of the U.S. financial sector

The current regulatory environment worldwide is one that demands that enterprises take every step to ensure the integrity of their finances, their data, their processes, and their employees. Legislators in virtually every nation have promulgated laws that mandate higher levels of corporate governance, risk management, and compliance. From the Sarbanes-Oxley Act (SOX) in the United States, to Bill 198 in Canada, to Japan’s Financial Instruments and Exchange Law (J-SOX) , to Saudi Arabia’s CMA Corporate Governance.

There is plan in the making at White house. The plan would bring sweeping changes to the way financial markets are overseen, empowering federal regulators and limiting the amount of risk financial companies can extend. It also would allow the government to take over and break up large firms, boost consumer protections and push for changes in the way loans are securitized.

Consultants stay tune ....