Obama reform shakes up the financial regulatory environment

US Treasury reforms promise to update the regulatory environment, but what about governance risk management?

The biggest news last week was the US Treasury regulatory reform package announced by President Barack Obama on June 17. This is undoubtedly the biggest shake-up of the US financial regulatory framework since the 1930s but missing from the reforms was any mention of governance of firms or risk management (apart from in the context of executive remuneration). Although countless papers have been issued on risk management and governance since the crisis unfolded, there hasn't yet been any firm