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You are here News Economy S.E.C. Chief Says Deregulation Fueled Crisis

S.E.C. Chief Says Deregulation Fueled Crisis

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Christopher Cox, the chairman of the Securities and Exchange Commission and a longtime proponent of deregulation, acknowledged on Friday that the voluntary supervisory program of Wall Street’s largest investment banks had contributed to the global financial crisis and abruptly shut the program down.

The agency’s oversight responsibilities will largely shift to the Federal Reserve.

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