The Center for Capital Markets Competitiveness met to discuss whether the regulatory structure of capital markets is outdated. Participating speakers agreed that the current regulatory system is in need of modernization to deal with changing markets but disagreed over what that modernization entailed. Eugene Ludwig, the founder of Promontory Financial Group, LLC, suggested that a system that enforces less while equally regulating large and small institutions is needed. Ludwig said that power is moving to favor large institutions and that this movement was not the intention of the founders of the United States. (more…)