The head of the fund-industry's advocacy group has outlined the regulatory reforms that most need Washington's attention. Here's the list, compiled by Paul Schott Stevens of the Investment Company Institute:
o Establish a single U.S. capital markets regulator for the SEC and Commodity Futures Trading Commission.
o Update the securities laws and harmonize laws that regulate brokers and investment advisors.
o Enlarge the mission; tough enforcement of securities laws must include smart oversight.
o Pay attention to agency management, including a better mix of disciplines on SEC staff, and
o Restructure staff offices.
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