It focuses on actual victims identifiable harm that has material and measurable damages. Yeah, but wouldn't the fishing expeditions of Rohit Chopra do the same thing? Yes, and so My view would be to turn those [supervisory and enforcement guidelines] into law. And so everything that we've done, turn it into statutory requirements that build on the work that we've done. All right. An effective regulatory system should motivate entities to detect and fix issues, as you've been talking about. (01:54–01:57)
CLAIM
Asserts a preference for turning supervisory and enforcement guidelines into statutory requirements.
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