NEW YORK ( TheStreet) --After weeks of deliberation, Congress passed the final version of legislation for the first major overhaul of the nation's financial system since the Great Depression, imposing more restrictions on Wall Street and banks having a dramatic effect on stocks and exchange-traded funds which track the sector.This final version will give the government new powers to break up companies that threaten the economy, create a new agency to guard consumers in their financial transactions and shine a light into shadow financial markets that escaped the oversight of regulators. To be more specific, the law will restrict banks from prop trading by limiting the amount an institution can invest in a hedge fund or private-equity fund to a maximum 3% of the bank's capital. Companies most likely to be influenced by this regulation include big players like JP Morgan Chase (JPM - Get Report), Goldman Sachs (GS - Get Report), Bank Of America (BAC - Get Report), Wells Fargo (WFC - Get Report) and Morgan Stanley (MS - Get Report).
Three ETFs To Be Impacted by FinReg
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