Rep. Frank Questions Transatlantic Regulation

Law360, New York (October 30, 2006, 12:00 AM EST) -- Representative Barney Frank (D-Mass.), who would take over the House financial services committee should the Democrats gain control of Congress next week, expressed doubts in an interview with a U.K. newspaper about whether European and U.S. regulators should jointly oversee securities markets.

“Joint action is theoretically [good] but what does that mean?” Frank told the Financial Times. “In American baseball, if the runner and the ball arrive at the base at the same time, the tie goes to the fielder. Who breaks a tie if there...
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