OCC probed for regulatory capture
The agency is among the latest being investigated for a potential soft touch when handling Wall Street firms
The chief auditing and investigative arm of the US federal government has added the Office of the Comptroller of the Currency (OCC) to a growing list of regulators under investigation to determine whether they are too close to the Wall Street firms they are tasked to oversee.
The Government Accountability Office (GAO) told FX Week on June 30 that it had included the OCC to provide the US Congress with a "full appreciation" of the potential for regulatory capture in the financial sector
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