US divided over regulatory convergence
WASHINGTON, DC - While the US has been celebrating the presidential election victory of Barack Obama, financial services firms are worried what a future with a Democratic president and a strong Democratic majority in Congress will hold. During his presidential campaign, Obama set out his vision to restructure the US financial regulatory regime under one overall regulator, but it is not yet clear whether he will hold onto this idea moving into his presidency.
The US economy as a whole and the
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