The website offers an objective overview and ongoing monitoring of the 91 reform recommendations the Treasury outlined in its Oct. 6 report, “A Financial System That Creates Economic Opportunities: Capital Markets.”
The site can be accessed free of charge and is available to financial services companies and any other stakeholders interested in tracking the Treasury’s actions. Users can search for the status of a recommendation.
“The site serves as an objective summary of the 91 recommendations, which we will track as future regulatory and legislative changes are implemented pursuant to the report,” Hong Le Webb, corporate securities and international advisory attorney at Murphy & McGonigle, said. “We are following the current Administration’s proposals closely and in a nonpartisan manner to keep the public informed and our clients apprised of key developments to protect their interests.”
Most of the recommendations are not in the form of legislation. The majority called for action by the Securities & Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
“As attorneys, it is our duty to stay one step ahead of trends and follow changes in the financial services regulatory environment. As we do so, we want to make the information we acquire available to the public and serve as a trusted resource to companies and individuals with a stake in capital markets reform,” James Murphy, chairman of Murphy & McGonigle, said. “Since our firm’s inception, we have placed a high priority on developing tools and solutions that combine our intellectual capital with technology to create products that help clients make better-informed decisions. This new web platform is a prime example of our commitment to innovation.”