U.S. Securities and Exchange Commission

Wall Street regulatory panel soon will have only 1 member (and 4 empty seats)

Wall Street regulatory panel soon will have only 1 member (and 4 empty seats)

After more than three years helping lead one of the country’s most powerful Wall Street regulators, Sharon Bowen is ready to step down.

Her pending departure from the Commodity Futures Trading Commission will leave the five-member board with just one member. And that’s a problem for a panel responsible for regulating some of the country’s most complex financial markets.

It’s also a problem for President Trump. Last week, his administration once again reiterated its pledge to rid the government of cumbersome regulations it contends are strangling business. But the task is proving difficult to achieve because many regulations are written to enforce congressionally authorized...

EDITION: California | U.S. & World
81°