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GAO Report Calls for Improved Info Resource Sharing in Financial Community

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Better Information Sharing Among Financial Services Regulators Could Improve Protections for Consumers GAO-04-882R, June 29, 2004.

  • “GAO has long held the position that financial regulators can benefit from improved information sharing. As regulators are faced with the challenges of overseeing a myriad of financial products, along with the individuals and organizations that develop and sell them, information sharing among regulators serves as a key defense against fraud and market abuses. However, our system of financial regulation is fragmented and, in many cases, isolated among numerous federal and state financial regulators overseeing the securities, insurance, and banking industries.”
  • GAO: Money watchdogs need central database
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