NY AG 'Troubled' By Trump's Rumored Aim At Wall St. Law

Law360, Los Angeles (November 17, 2016, 10:26 PM EST) -- New York Attorney General Eric Schneiderman said Thursday he was “deeply troubled” by a Donald Trump presidential transition team member’s reported efforts to truncate the state’s power to go after Wall Street in court, saying that power protects consumers and investors.

The state’s top cop was responding to a Fox Business report from Tuesday that said former U.S. Securities and Exchange Commissioner Paul Atkins, now on President-elect Trump’s transition team, was looking to target New York’s Martin Act and other similar state laws by drafting legislation that would shuffle them below federal statutes that aren’t as tough on banks and financial...

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