Wall Street rejoices as the bell tolls for Biden-era regulation

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Jack Inglis, CEO of the Alternative Investment Management Association, said: “We anticipate that the administration’s approach to financial regulation will be much more restrained and targeted . . . particularly when it comes to the SEC agenda.

Some bankers hope Randy Quarles will return to the Federal Reserve as head of supervision; Jonathan Gould, a Jones Day partner, is a potential candidate for the Office of the Comptroller of the Currency, and Travis Hill is seen to be in pole position for the Federal Deposit Insurance Corporation where he serves as vice-chair.“What we’re opening under is whoever they pick [for key government positions] will be better than the status quo,” said one bank lobbyist.

Globally, top financial watchdogs have warned a Trump deregulatory push could rip apart already-fraying efforts to maintain a global set of rules for the financial system and weaken defences against another crisis.

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Article Details

Author / Journalist: Stefania Palma

Category: MarketsFinanceInvesting

Markets: United States

Topics: Industry Equity Been Other Financial Trump Investment Private Banks Rules Administration

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 05:00:46 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 1291 words

Reading Time: 8 minutes read

Sentences: 44 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23457280

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