The collapse of MF Global has exposed weaknesses in the Commodity Futures Trading Commission's and Federal Reserve Bank of New York's ability to evaluate the risks that the institution's operations.

The current dependence upon a small and select number of primary dealers is neither necessary nor in the best interests of taxpayers.

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.

Which politicians do you trust more to micromanage your health care: federal or state? That’s the false choice presented by two versions of “federalism” intended to divide responsibility for health policy between the national government and the states.

The SFRC urges the Federal Housing Finance Board to require thatFHLB accounting statements recategorize excess stock as a form of debt. Moreover, studying this issue has convinced the SFRC that a piecemeal approach to restructuring capital requirements for the FHLBs is inadequate. The entire structure of capital management across the FHLB system needs a thorough overhaul.

TheSEC's proposed Regulation NMS (National Market System) serves no purpose and certainly does not amount to desirable market structure reform.

The new governance structure at theNew York Stock Exchangeshould result in a more engaged board of directors, nimbler decision-making, and more effective regulation of trading practices.

At this luncheon press briefing, SFRC members issued statements and answered questions.