Making Their Move

As expected, the U.S. government is making its move to reform regulatory oversight and strengthen risk management practices at major U.S. financial institutions.   More will be required from these institutions, both in terms of capital as well as compliance and control.  Here is what the Wall Street Journal reported yesterday about U.S. Treasury Secretary Tim Geithner's plans.

Mr. Geithner is expected to call for a strict and consistent set of regulations for large firms, as well as more power for the government to monitor emerging risks to the economy. The new rules will likely require financial institutions to hold more capital as a buffer against losses and will bolster risk-management standards. All told, the proposals would mean significant expansions of power for the Treasury, Federal Reserve and other regulators.

Preparations for these sweeping changes must begin now.  Is your company ready?  Visit www.WheelhouseAdvisors.com to learn more about how we can help.