BOSTON, June 14, 2018 /PRNewswire/ -- Today the Staff of the Committee on Capital Markets Regulation is releasing a report on the structure, operation, and transparency of the U.S. public enforcement system as it pertains to the financial system.
The report explains how the enforcement system is organized, presents data on enforcement activity over a 17-year period, and offers 19 recommendations aimed at increasing the system's transparency, efficiency, and effectiveness.
The Committee's Co-Chairs, R. Glenn Hubbard (Dean, Columbia Business School) and John Thornton (Chairman, The Brookings Institution), and its Director, Hal S. Scott (Nomura Professor and Director of the Program on International Financial Systems, Harvard Law School) issued the following statement in connection with the report's release:
"The Staff of the Committee on Capital Markets Regulation has developed a comprehensive review of the U.S. public enforcement system, which is the first of its kind and should be used by policymakers as they consider ways to improve the U.S. enforcement system.
The Staff Report also sets forth recommendations for how to reform the U.S. public enforcement system. It is important to emphasize that neither the members of the Committee nor the staff of the Committee advocate decreasing penalties in the financial system for unlawful behavior. Rather the primary goals of the recommendations are to: (1) enhance transparency and (2) improve coordination in the U.S. public enforcement system.
The Staff Report is principally intended to foster discussion for how to enhance public enforcement in the U.S. financial system, whether or not one agrees with the specific recommendations."
The full statement can be accessed at: https://www.capmktsreg.org/wp-content/uploads/2018/06/Statement-by-Co-Chairs-and-Director-of-the-Committee-on-Capital-Markets-Regulation-.pdf
The full report can be accessed at: https://www.capmktsreg.org/wp-content/uploads/2018/06/Final-Enforcement-Report.pdf
Press inquiries may be directed to the Committee's Deputy Director, John Gulliver at: firstname.lastname@example.org
SOURCE Committee on Capital Markets Regulation