WASHINGTON–Treasury Secretary Henry Paulson Jr. said yesterday the Bush administration's "blueprint" for modernizing the U.S. financial services industry will address "the important role that insurance can play in today's interconnected financial markets."
The comment during a question-and-answer session following Secretary Paulson's speech at the annual Chamber of Commerce Capital Markets Summit was immediately lauded by the American Insurance Association.
Secretary Paulson was not specific as to when the so-called Blueprint for Regulatory Reform" will be released. He said it will propose a financial regulatory framework "which we believe will more effectively promote orderly markets and foster financial sector innovation and competitiveness."
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