📄Trump Should Reform Financial Watchdogs. Here’s How Bloomberg reports that simplifying oversight of markets and banking would make the system safer. It won’t be easy. 📈No doubt, the current system is unwieldy. At the federal level — excluding an array of separate state regulators — three entities oversee banks, two supervise markets, one aims to protect consumers and another defends against financial crimes. 📊Many large institutions must submit to all of them. Senior managers of an average bank today spend some 42% of their time on compliance-related tasks. Worse, such fragmentation at times allows risks to fall through the cracks. 📉 It’s true that the US has too many regulators — including the Federal Reserve, the Treasury Department’s Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. — in addition to state banking authorities. A better approach would be to create a single prudential authority charged with protecting the financial system. Read full: ⬇️⬇️⬇️ en review.uz/en/msj ru review.uz/msj More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter|linkedin