On Regulatory Reform and Restoring Trust in Our Financial System and Markets
A message to investors from John Taft, CEO of RBC U.S. Wealth Management
Achieving a major recovery milestone
The historic financial regulatory reform bill signed into law by President Obama last summer represents an important and necessary first step towards restoring public confidence in capital markets and in the U.S. financial system as a whole.
Investors who were shaken by the market free fall of 2008 and 2009 - and who still haven't recovered from seeing their accumulated wealth take a nosedive in just a few agonizing months - should be encouraged by the progress that policy-makers have made in modernizing our financial regulatory infrastructure. As a result of this law, I believe our financial system will be safer, sounder and more secure than it was before the crisis.
Indeed, financial regulatory reform consists of the most extensive delegation of rule-making authority by Congress to regulators ...