Some U.S. legal experts on the 14th called for the U.S. financial system and corporate governance structure to implement comprehensive reforms to promote the Wall Street financial industry to abandon its mad pursuit of short-term interests of the habit.
University of Michigan Law School professor Nicholas Stockhausen at the National Chinese Finance Association annual meeting held in New York noted that the Government must pay attention to reform and strengthen the regulation of corporate governance structure.
Hausen received an interview with Xinhua News Agency said that the existing so-called "good" corporate governance may lead to "bad" financial enterprises. "Because of the current corporate governance objective is to meet the interests of shareholders, in order to pursue short-term profits, companies will adopt high-risk behavior," he said, "We need to change corporate governance structure, strengthen supervision, so that the long-term healthy development of enterprises for the purpose of abandon chase the bad habit of short-term profits. "
Turning to financial regulation, law and business professor at New York University, William Allen pointed out that despite the regulatory framework for post-crisis era has not yet formed, "We have been aware of the basic direction of financial supervision is to strengthen the supervision of investment banks, hedge ... ... at the same time funds, insurance companies and other non-bank financial institutions should apply to the appropriate regulatory requirements in order to maintain the balance of regulation. "
On the regulation of hedge funds, counsel Jiefukeen that hedge funds are now frequent and securities fraud, insider trading, which is difficult to define and evidence of insider trading is very much related difficulties. He believed that regulation does not mean continuing to adopt new rules, regulators need to have better law enforcement and detection capabilities.
In order to prevent recurrence of similar financial crisis, the U.S. government launched in June this year, the financial regulatory reform program, this is "the Great Depression," the U.S. government since the financial regulatory system to the intensity of the biggest reforms. However, the Congress and the financial sector there are differences on the reform program is expected to parties will be a heated race-related issues. |
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