Tuesday, February 06, 2007

To Alter U.S. Regulatory Climate, Mayor Eyes Overseas Methods

In an effort to stop businesses from fleeing New York, Mayor Bloomberg is meeting with international finance regulators about the idea of making the American regulatory system less burdensome.

Mr. Bloomberg yesterday met in London with the chairman of the Financial Services Authority, the umbrella regulatory body for the banking, securities, insurance, and investment industries in Britain.

The meeting came just weeks after Mr. Bloomberg and Senator Schumer released a report warning that New York will be replaced as the financial capital of the world if the federal government does not make changes to the regulatory environment.

To Alter U.S. Regulatory Climate, Mayor Eyes Overseas Methods

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