September 2009
The Administration’s Financial Regulatory Reform Proposals
Financial Fraud Law Report
On June 17, 2009, the Obama administration outlined its much-anticipated framework for Financial Regulatory Reform (the Financial Reform Plan or Plan) in its release “Financial Regulatory Reform, a new Foundation: Rebuilding Financial Supervision and Regulation” and the accompanying fact sheets. Introducing the plan, President Obama said “With the reforms we’re proposing today, we seek to put in place rules that will allow our markets to promote innovation while discouraging abuse. We seek to create a framework in which markets can function freely and fairly, without the fragility in which normal business cycles suddenly bring the risk of financial collapse; we want a system that works for businesses and consumers.” This article summarizes the key provisions of the Plan proposed.