Regulatory Innovation Award Winner Bipartisan Policy Center Honored at Gala - Hawaii News Now - KGMB and KHNL

Regulatory Innovation Award Winner Bipartisan Policy Center Honored at Gala

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SOURCE Morrison & Foerster

NEW YORK, June 17, 2014 /PRNewswire/ -- On June 9, Morrison & Foerster joined government officials, partners of the largest law firms in America, law school deans, and professors from across the nation to honor the Bipartisan Policy Center, the 2014 recipient of the Burton Foundation's annual Regulatory Innovation Award. The Bipartisan Policy Center is a Washington-based non-profit organization that works to advance policy solutions. Morrison & Foerster established the Regulatory Innovation Award in 2008 through the Burton Foundation to honor an academic or non-elected public official whose innovative ideas have made a significant contribution to the discourse on regulatory reform in the arena of corporate governance, securities, capital markets or financial institutions. The Burton Awards ceremony and gala was held at the Library of Congress in Washington, D.C.

The Bipartisan Policy Center was recognized for the work of the Center's Financial Regulatory Reform Initiative. Chair emeritus of Morrison & Foerster, Keith Wetmore presented the award. In honoring the Center, Mr. Wetmore noted that "when we conceived of this award, just around the time of the financial crisis, we were focused on the benefits to be gained by innovative approaches to regulation. It seemed to us that all too often the power of smart regulation to promote change was overlooked. In the years since, something else has been overlooked: bipartisan collaboration. In an era of intense and often unproductive partisanship, the work of the Bipartisan Policy Center stands out as worthy of recognition."

Mr. Wetmore recognized the Center's "thoughtful work on some of the most significant Dodd-Frank reforms, such as the Volcker Rule, the Lincoln Amendment, the Too-Big-To-Fail issue, and the authority of the CFPB, have proven that bipartisan approaches informed by data-based analyses can produce valuable recommendations. This is evident in the Center's work relating to the CFPB, where the CFPB adopted a Center recommendation related to the scope of the Bureau's authority. Further, just recently, based on the Center's work the Senate took action to clarify that the capital requirements applicable to certain insurance companies should be tailored to them, not based on bank capital rules. These are just two examples of the Center's exceptional work."

To learn more about the outstanding work of the Bipartisan Policy Center in bringing together industry leaders and academics to engage in thoughtful and rigorous consideration of various aspects of regulatory reform and to read about the Regulatory Innovation Award, as well as prior winners, click here. To learn more about the Burton Foundation, see http://www.burtonawards.com/.

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