New York Gov. Eliot Spitzer said Tuesday he will find ways to adjust regulation of the financial sector to help keep Manhattan the world’s money capital even as corporations break down traditional boundaries between banking, insurance and other financial services.
“The structure of our regulatory framework right now relates to a different era,” Spitzer said in announcing his executive order to create a commission to recommend changes to current law. “Different silos of different financial activity were regulated in different ways.”
