Bush signs regulatory relief bill into law

A bill aimed at reducing excessive regulatory burden on insured financial institutions in the US has been signed into law, marking the first regulatory relief bill to be passed in more than 10 years.

The Financial Services Regulatory Relief Act of 2006, among other things, “will remove the legal uncertainties that have hindered banks that sell securities”, said Floyd Stoner, the executive director of congressional relations and public policy at the American Bankers Association (ABA).


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