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It is nothing less than wresting the leadership of world economic regulation from the United States.
Its members would also welcome lighter regulation from the federal government.
It fills a requirement under a joint regulation from the Nuclear Regulatory Commission and the Federal Emergency Management Agency.
"If it's going to become regulation from the top down, then we're going to have a major problem".
It also wants to see tougher regulation from the government to clean up the claims management industry.
The authority also assumed control of banking regulation from the Bank of England.
Nonetheless, removing banking regulation from the Fed's umbrella would have some clear advantages.
And he said a federal regulation from the early 1970's should be changed for S.U.V.'s to permit automakers to lower horizontal reinforcement bars inside the doors.
In fact, Obama's tax plan is actually the first real plan for financial regulation from the White House since the passage of Dodd-Frank financial reform in 2010.
In an interview with Radio Times in April, the chancellor, George Osborne, signalled that he favoured the handover of BBC regulation from the BBC Trust to Ofcom.
Then in 2013 the Dread Pirate told Forbes in an interview that Silk Road's "core" role was "a way to get around regulation from the state".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com