CHAPTER 7Introduction to the U.S. Regulatory Regime

INTRODUCTION

There are multiple U.S. financial regulators with a wide range of regulatory objectives and approaches. Further, both the architecture and approach of the U.S. regulatory regime differ from those of other international regulatory regimes. This chapter provides an introduction to U.S. financial regulation and the approaches of the various U.S. regulators, and compares the U.S. approach to that of international financial regulatory regimes. This chapter also introduces the Dodd-Frank Act.

After you read this chapter you will be able to:

  • Identify the U.S. financial regulators.
  • Understand the approach of U.S. financial regulators.
  • Compare the U.S. financial regulatory regime to international financial regulatory regimes.
  • Identify international financial institutions.
  • Understand the objectives of the Dodd-Frank Act.
  • Describe each of the titles of the Dodd-Frank Act.

WHO ARE THE REGULATORS?

Table 7.1 details the various U.S. federal financial regulators and organizations. In a Congressional Research Service article authored by Edward Murphy, regulators are described as focused on either certain types of financial institution, a particular financial market or activity, or systemic risk.1 The focus of each of the regulatory entities is as follows:

  • Focus on certain types of financial institutions: The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit ...

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