That leads to responsible regulation. Most of the laws governing the industry were passed in the aftermath of the stock market crash of 1929. They worked well for 75 years, Helck says, but are outdated. And the necessary modernization has been accelerated by a series of financial crises. That means it is vulnerable to decisions made from panic. "It's not just damage control to keep us from another mortgage meltdown. It's creating a framework to work with more expansive investment choices, rapidly changing technology," Helck explains. "We're just playing at a higher level today."
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