US: Senator Dodd’s bill summary: 1-Consumer Protections with
Authority and Independence: Creates a new independent watchdog, housed
at the Federal Reserve; 2-Ends Too Big to Fail, gives safe way to
liquidate failed financial firms; imposing tough new capital & leverage
requirements; 3-Advanced Warning System: Creates a council to identify
and address systemic risks posed by large, complex companies, products,
and activities before they threaten the stability of the economy;
4-Transparency & Accountability for Exotic Instruments: Eliminates
loopholes that allow risky and abusive practices to go on unnoticed;
5-Federal Bank Supervision: Streamlines bank supervision to create
clarity and accountability; 6-Executive Comp: Provides shareholders with
a say on pay and corp affairs; 7-Protects Investors: Provides tough
rules for transparency and accountability; 8-Enforces Regulations:
empowers regulators to aggressively pursue fraud, conflicts of interest.