During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

American Enterprise Institute economist Peter Wallison explains why the recent JP Morgan losses are proof that the Volcker Rule is unworkable and should be abandoned.

Giving a government agency the power to designate companies as systemically significant and to regulate their capital and activities is a very troubling idea.

Measures to help avoid a future crisis and proposals to change the way in which the government responds to crises should they happen nonetheless.

The House Financial Services Committee's October 27 Discussion Draft proposes measures that would, if enacted, retard economic growth, allow the government to assume control over the financial system, and seriously impair financial competition.

In November 2007, the Financial Services Roundtable published The Blueprint for U.S. Financial Competitiveness, a report that recommended ways to counteract the gradual decline in U.S. financial services competitiveness because of excessive regulation, litigation risk, and lack of regulatory coordination. Since then, many financial services organizations have provided comments and...

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy.