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Page Perry

The U.S. government is trying to recruit new talent with “Wall Street experience and retool antiquated surveillance systems,” according to Rachelle Younglai of Reuters. In the past the SEC and other government regulators have been unable to attract the top talent because they could not match the high salaries of top Wall Street firms. The gap between Wall Street and government regulators could become closer with the help of the Dodd-Frank reform law. However, because of a “congressional budget standoff depriving promised funding increases to the SEC and Commodity Futures Trading Commission,” their ability to better regulate the financial industry is being compromised.