Chris Brummer’s Contribution to the Financial and Security Laws
Financial and Securities principles are forms of supervision that monitor all monetary transactions.Examples of financial transactions that the two handles comprise of the banking industry, enterprises, and insurance companies.The Securities and Exchange Commission (SEC) enforces the financial and securities law as well as investigating firms when financial audit shows discrepancies. Moreover, SEC handles all stock market dealings.In this regard, SEC calls for all entrepreneurs to act per these financial and security principles.
Chris Brummer is a global leader, a financial and security expert. He has been in the forefront advocating for implementation of these regulations. Since he was appointed to the U.S. Commodity Futures Trading Commission by the White House ten years ago, Chris Brummer has been concentrating on the effects of the China’s currency in the international financial system. Brummer’s tenure at the Financial Industry Regulatory Authority (FINRA) did not end without recognition of his great contribution.
The world’s economy and its steadiness solely depend on the changes of budgetary aspects. Thus, intervention by the global financial and security experts is needed to regulate the money. The good thing about regulating securities is that it has been able to control the effects of outside forces to the financial market as well as guarding the economy. The budgetary unions are the primary determinants of the trade balances and how a state performs in a specific economic block. With the help of Chris Brummer, United States has significantly learned a lot from the China’s budget.The common BREXIT, for instance, happened when British felt insecure due to its unstable economy which they described as violation of their financial market.
Securities include stocks, bonds, investment contracts and mineral rights. For that reason, investors and companies can purchase and vend securities.Even if the nationwide and the local principles call for security laws to be enforced and request entrepreneurs to list their businesses, they also banned them from conducting illegal businesses.Thus Chris Brummer decided to take up the work of teaching people on the impacts of having financial and security principles since they regulate crime as well as reducing economic disturbances.
In conclusion, financial regulations have a positive effect on a growing economy considering the GDP and the labor force. It also influences the rate of economic growth and development and the rate of employment in any country. Chris Brummer has discussed this topic in his many editorials. Although financial and securities laws differentiate between private and public property, it also bridges the gap between the two. As a matter of fact, financial and security regulations have contributed significantly to the world’s economy and they should continue to be enforced.