US investment banks to take on new responsibility
In May this year, a new task force comprising the SEC and several bank regulators published proposals aimed at forcing investment banks to exercise greater oversight of structured finance transactions. Bradley K Sabel reports
Federal bank regulators have teamed up with the Securities and Exchange Commission (SEC) to propose that banking and securities institutions be required to adopt internal policies and procedures to review complex structured finance transactions. The proposal was published at 69 Fed. Reg. 28980 on 19 May, 2004.
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