CEOs and business leaders on the COMPAS business panel agree overwhelmingly that a revised version of the Glass-Steagall Act of 1933 be re-enacted, as advocated by former U.S. Federal Reserve Chair Paul Volcker. Almost all panelists want retail banks to be prohibited from acting as hedge funds.

By contrast, there is no consensus at all about legislation to control bank size in either Canada or the U.S. Nor is there any consensus about the desirability of the Canadian government’s encouraging the formation of more banks in our country.

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine under sponsorship of BDO Dunwoody LLP.

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