WASHINGTON (Reuters) - The top U.S. securities regulator on Tuesday said the regulatory process should not be used to re-debate the financial reform Congress passed, but pledged an open process.
U.S. Securities and Exchange Commission chairman Mary Schapiro told business lobbyists at a Chamber of Commerce event that the SEC will be seeking public comment, even before it formally puts out proposals on topics such as over-the-counter derivatives, and fiduciary standards for brokers.
She also described the Dodd-Frank Act as a catalyst for economic growth.
"I believe the act, especially when fully implemented, will bring us closer to a goal we all share: namely, more stable financial markets that better protect investors and facilitate the capital formation on which our workers, investors, companies and economic growth rely," Schapiro said in prepared remarks.
(Reporting by Kim Dixon and Karey Wutkowski, editing by Gerald E. McCormick)
