NYC Losing to London on Regulatory Costs?
The FT reports that in London City professionals celebrate Sarbanes-Oxley for driving business form New York to the UK; while SEC Chairman Christopher Cox promises the regulators won’t over-reach. However, the bigger dangers if legislative creep from Congress and the European parliament, the paper warns, in an article by Jeremy Grant.
Safe to say the US regulatory regime could use an overhaul, preferably one that brings about at least optional federal regulation for insurance. A little scary, though, to think that the any change would have to be overseen by a Congress that seems to have little understanding of economics and far more concern about television face time.
