Speaking to a group of international lawyers on Wednesday, Securities and Exchange Commission chair Mary Jo White said foreign countries need to tear down legal barriers that block the regulator from directly supervising companies.
“One of the important lessons of the 2008 financial crisis was that regulators need a complete and accurate picture of the financial firms they regulate, regardless of where these regulated entities are located or where their regulated activities occur,” White said. “As regulators, we cannot afford to have a blind or even cloudy spot.”
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