Is Eliot Spitzer changing his tune?

Eliot Spitzer's wars, on mutual funds and sell-side research among other targets, really shook up the industry, to the glee of lawyers. But now that he is governor of New York, is he changing his tune? He is certainly savvy to the issue surrounding the fate of New York as a financial center. Spitzer just signed an order creating the New York State Commission to Modernize the Regulation of Financial Services. It will focus, according to The New York Times on "streamlining regulation." At the state level, it seems like a lot could be done. No fewer than four entities regulate the industry. It really isn't an abrupt change of tune. It makes a lot of sense to streamline, just as it did to properly disclose various fund sales arrangements. In the end, hopefully everyone benefits.

For more:
- here's the article from The New York Times