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Move the SEC to New York, Professor Suggests

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How could the Securities and Exchange Commission do a better job of monitoring Wall Street and in particular the markets? One professor has a simple answer: move most of its operations to New York from Washington. Georgetown professor James Angel was testifying at an unusual House Financial Services Committee capital markets subcommittee field hearing on market structure that was held in New York. The suggestion was met approvingly by Rep. Michael Grimm, a Republican who to no one’s surprise represents New York (Staten Island in particular).