SEC memorandum a short-term fix: Bernanke

The memorandum of understanding (MOU) between the Securities and Exchanges Commission (SEC) and the Federal Reserve, introduced Monday, is only meant to address the short-term issues surrounding the regulation of investment banks, Ben Bernanke, the chairman of the Federal Reserve, said Tuesday.

Bernanke told an audience in Arlington, Virginia, that the current co-operation between the SEC and the Fed was "taking place within the existing statutory framework with the objective of addressing

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