Business Roundtable Statement on The Department of the Treasury’s Blueprint for a Modernized Financial Regulatory Structure

WASHINGTON--(BUSINESS WIRE)--“The Department of the Treasury's Blueprint for a Modernized Financial Regulatory Structure represents a timely response to the current state of our country’s aging regulatory system. As the financial sector of our economy continues to evolve, so should the regulatory system that oversees it.

“The Department of the Treasury's Blueprint for a Modernized Financial Regulatory Structure represents a timely response to the current state of our country’s aging regulatory system. As the financial sector of our economy continues to evolve, so should the regulatory system that oversees it.”

This initiative is a broad effort designed to modernize and improve a patchwork of outdated and overlapping regulations. We believe the plan as outlined, will increase the competitiveness of our financial markets, provide greater efficiencies for our companies, and therefore increase shareholder value. Business Roundtable looks forward to the promise these improvements will bring for America’s companies and citizens,” said John J. Castellani, president, Business Roundtable.

Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading U.S. companies with $4.5 trillion in annual revenues and nearly 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and represent over 40 percent of all corporate income taxes paid to the federal government. Collectively, they returned $114 billion in dividends to shareholders and the economy in 2006.