A line-up of former regulators, lawmakers, and other financial policy makers headed by one-time Federal Deposit Insurance Corp. (FDIC) chairman Sheila Bair will form the Systemic Risk Council to keep tabs on the enforcement of the new regulations under Dodd-Frank. As NationalMortgageNews tells MHProNews.com, the group was organized by the Pew Charitable Trusts and CFA Institute, an organization that sets standards for investment pros. Other council members include former Nebraska Senator Chuck Hagel, former Commodity Futures Trading Commission chair Brooksley Born and former Treasury secretary Paul O’Neill. One-time Federal Reserve Chairman Paul Volcker will be a senior adviser. Noting a major concern that reform is not moving fast enough, the group will also focus on the enforcement of regulations, transparency, and financial disclosure.
