WASHINGTON (MNI) - The following statement was issued by the Financial Services Roundtable in reaction to Sen. Chris Dodd's proposed financial regulatory reform bill:

In response to Chairman Chris Dodds bill on regulatory reform, The Financial Services Roundtable is supportive of some provisions, yet remains concerned with other components.

"Regulatory reform is landmark legislation, and we need to be sure to get it right," said Steve Bartlett, President and CEO for the Roundtable. "Chairman Dodd has unveiled a bill which we believe hits the right notes on some aspects, like too-big-to-fail and streamlining of bank regulation." Bartlett continued, "The Roundtable believes that consumer protection should not be separated out from the regulators which govern the products. We are concerned with the autonomous authority given to such an entity."

"We continue to urge lawmakers to reach a bipartisan bill to modernizing our regulatory framework and protect consumers."

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