Financial Services Roundtable critical of SEC

Financial Services Roundtable is set to release a report critical of the SEC and past regulatory practices, reports The Hill. Now that we have a new Chairman they want him to review some of the past rulings. Cox is viewed by many as anti investor and some feel that perhaps he will remove some of the protections investors have won in recent past.

While the devil will be in the details and the fine print of the report there is an uneasy feeling that this group which represents 100 of the largest banks and securities traders will not be looking out for the retail small investor.

This news while not as exciting as the REFCO debacle is more important as it will influence long term policy decisions that affect and effect your pocketbook. Stay tuned.