What is Financial Regulation in the US: The financial regulatory system has been described as fragmented, with multiple overlapping …

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What is Financial Regulation in the US:

The financial regulatory system has been described as fragmented, with multiple overlapping regulators and a dual state-federal regulatory system. The system evolved piecemeal, punctuated by major changes in response to various historical financial crises. The most recent financial crisis also resulted in changes to the regulatory system through the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 (Dodd-Frank Act; P.L. 111-203) and the Housing and Economic Recovery Act of 2008 (HERA; P.L. 110-289). To address the fragmented nature of the system, the Dodd-Frank Act created the Financial Stability Oversight Council (FSOC), a council of regulators and experts chaired by the Treasury Secretary.

Why it is important:

Regulators regulate financial institutions, markets, and products using licensing, registration, rulemaking, supervisory, enforcement, and resolution powers. In practice, regulatory jurisdiction is typically based on charter type, not function. In other words, how and by whom a firm is regulated depends more on the firm’s legal status than the types of activities it is conducting. This means that a similar activity being conducted by two different types of firms can be regulated differently by different regulators. Financial firms may be subject to more than one regulator because they may engage in multiple financial activities. For example, a firm may be overseen by an institution regulator and by an activity regulator when it engages in a regulated activity and by a market regulator when it participates in a regulated market.

What will you learn:

  1. Introducing participants to the rationales and main elements of financial regulation, so that they understand the ‘why’, ‘how’ and ‘who’, regardless of what concrete regulatory issue they will be looking at in the future.
  2. Exploring seven of the most important policy areas in the field of financial regulation, all of which were fundamentally overhauled following the 2007-2010 financial crisis, and which are still subject to a continued regulatory debate.
  3. Enable participants to follow and shape the debate around financial markets regulation, be it their current or future role in the financial sector, as a legal practitioner, central banker, policymaker, researcher, or NGO-representative.

Target audience:

The Private financial sector (strategy, management, compliance, legal, governmental and international affairs, etc.); Legal practice specializing in the above; Government and governmental agencies; Central banks; International organization and EU organs and agencies; Non-governmental organizations and advocacy groups active in the field of international finance.


  1. Supervision and Regulation of the US Financial System (Part 1)
  2. Securities and Exchange Commission (SEC) (Part 1)
  3. Federal Reserve (The Fed)
  4. Office of the Comptroller of the Currency (OCC)
  5. Federal Deposit Insurance Corporation (FDIC)
  6. Commodity Futures Trading Commission (CFTC)
  7. Consumer Financial Protection Bureau (CFPB)
  8. US Federal Regulatory Bodies
  9. Financial Stability in the US
  10. Monetary Policy in the US
  11. US Payments System
  12. Securities and Exchange Commission (SEC) (Part 2)

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