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New SEC Division Regulating Risky Financial Products

The SEC announced today that a banking law expert from the University of Texas School of Law will head a new division.

Law Professor Henry T. C. Hu has been named Director of the newly-established Division of Risk, Strategy, and Financial Innovation.

The new division will police market risk “By combining economic, financial, and legal analysis in a single group, this new unit will foster a fresh approach to exchanging ideas and upgrading agency expertise” says SEC Chairman Mary Schapiro.

http://www.sec.gov/news/press/2009/2009-199.htm

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