Obama speaks on financial regulation

The Wall Street Journal reports today:

President Barack Obama on Monday defended his administration’s record on financial regulatory issues and said that shadow banking, cybersecurity, and rules governing executive compensation would be top priorities during his remaining months in office.

On shadow banking in particular, regulators faced a challenging task in overseeing a new sector of the financial-services industry, Mr. Obama said. He pointed to the work done by the Financial Stability Oversight Council to monitor and label nonbank financial institutions as positive progress toward regulating shadow banks, which include finance companies, hedge funds and other entities that fall outside bank regulations.

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