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ARTICLE · 22 JUNE 2009

Obama Administration Proposes Comprehensive Changes to Financial Services Regulation

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On Wednesday, June 17, 2009, the Obama Administration released a detailed proposal to change the financial services regulatory regime in the United States.

United StatesFinance and Banking
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Article by Scott A. Anenberg , Thomas J. Delaney , Elizabeth M. Knoblock , David R. Sahr , Jeffrey P. Taft and Joel Telpner

Originally published June 18, 2009

Keywords: Financial Regulatory Reform, financial services regulation, Financial Services Oversight Council, Federal Reserve Board, Tier 1 FHC, nonbank holding company, National Bank Supervisor, derivatives regulation, Consumer Financial Protection Agency.

On Wednesday, June 17, 2009, the Obama Administration released a detailed proposal to change the financial services regulatory regime in the United States. The "white paper," entitled "Financial Regulatory Reform: A New Foundation," calls for the most significant overhaul of the American financial regulatory landscape since the Great Depression and is intended to mitigate or forestall future financial crises. This client update highlights some of the most significant aspects of the proposal, much of which must still be set forth in legislative

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