SEC chair says regulators vital to market recovery

The Obama administration is examining how regulators and credit rating firms can restore investor confidence during the current worldwide economic crisis, the head of the US Security and Exchange Commission said Thursday. "We need to constantly keep pace with the financial products and with the risks of how the products are packaged and sold," SEC Chair Mary Schapiro told an international conference of securities regulators. "Now is the time for securities regulators to prove ourselves, and the capital markets around the world can flourish if we succeed," she said. Speaking by teleconference to the Tel Aviv gathering, Schapiro said protection of investors, ensuring that markets are always fair, efficient and transparent and protection of systemic risk should be the guiding principles of regulators.