The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sun, 31 May 2026 11:30:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png The Future of Financial Regulation – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 The Future of Financial Regulation https://corpgov.law.harvard.edu/2009/10/29/the-future-of-financial-regulation/?utm_source=rss&utm_medium=rss&utm_campaign=the-future-of-financial-regulation https://corpgov.law.harvard.edu/2009/10/29/the-future-of-financial-regulation/#comments Thu, 29 Oct 2009 13:01:42 +0000 http://blogs.law.harvard.edu/corpgov/?p=4923?d=20091029090142EDT (Editor’s Note: The post below by Chairman Mary Schapiro is a transcript of her remarks at the University of Rochester’s Presidential Symposium on the Future of Financial Regulation, omitting introductory and conclusory comments; the complete transcript is available here. The views expressed in this post are those of Chairman Schapiro and do not necessarily reflect those of the Securities and Exchange Commission, the other Commissioners or members of the staff.)

The financial events of the last two years have had an impact on every American, and the repercussions have been felt throughout our society and the world. Importantly for regulators and for our discussion today, the crisis has laid bare significant limitations in our financial regulatory structure and exposed gaps in the regulation of products and market participants that truly must be filled.

I believe in the coming months this Congress will enact new legislation regarding the way we regulate our financial markets. And, I believe this because there is such a tremendous need to reform the system.

The shape of that legislation is still subject to the rough and tumble of Washington, but I believe that many of the legislative proposals working their way through Congress — though perhaps not perfect — represent a significant step forward. And, I am personally committed to helping to turn the hope of regulatory reform into a reality.

I thought I’d take a few moments to lay out briefly:

  • First, the gaps that need to be addressed.
  • Second, the most constructive way to approach systemic risk.
  • Third, the steps we are taking at the SEC apart from the legislative process to achieve reform.

    • (more…)

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