Better late than never…
Perhaps the current angst over the plummeting (relative) competitiveness of US financial markets is finally set to overcome traditional resistance to overhauling the outdated, parochial, archaic and innovation-resisting regulatory frameworks in the US. It would of course be fantastic news and perhaps hasten the arrival of the new (AmazonBay?) paradigm in financial services.
(from the FT 
Pressure grows for insurance regulation
By Jeremy Grant in Washington
Published: May 27 2007 21:59 | Last updated: May 27 2007 21:59Momentum is building in the US towards the creation of a more streamlined regulatory system for insurance and re-insurance with the reintroduction of bipartisan legislation to create an “optional federal charter”.
Let’s hope this initiative gets the support it deserves on the Hill. It will be interesting to see who – if anyone – comes out against this highly sensible proposal.
