When the major economies map out their postcrisis financial reforms, they should avoid overregulating the financial services industry in the United States and focus instead on smarter application of existing regulations, the chief executive officer of NYSE Euronext said in Tokyo recently.
Noting the worst of the crisis "is clearly behind us" a year after the Lehman Brothers shock of September 2008, Duncan Niederauer said the focus of regulatory reforms should be simple — protecting investors, encouraging transparency, and harmonizing the overlapping and sometimes confusing regulatory approaches taken by different government agencies.
NYSE Euronext, a holding company that runs seven stock exchanges including New York, Paris and Amsterdam, "is generally supportive" of what the U.S. administration of President Barack Obama has spoken about regarding financial reforms and expects Congress to take action within the coming months, Niederauer said at a seminar organized by Keizai Koho Center on Sept. 17.