Spitzer charges proposed SEC bill with curbing states’ power
NEW YORK -- Legislation introduced and approved by the US House of Representatives’ Financial Services Capital Markets Subcommittee in July could prevent individual states from setting regulations for investment banking firms that conflict with requirements set forth by the SEC. This would sharply curtail efforts by New York Attorney General Eliot Spitzer and other state prosecutors to penalise such institutions.
According to Capital Markets Subcommittee chairman Richard Baker, the bill
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