Paul Saltzman, President of The Clearing House Association and Executive Vice President and General Counsel of The Clearing House Payments Company, opened up The Financial Industry in a Post-Crisis World Symposium with remarks entitled Mitigating Risk through Clearer Substantive Rules and Greater Individual Accountability: A Few Observations on Recalibrating our Regulatory Approach. At the event, co-sponsored by The Clearing House Association (TCH) and the Center for Financial Policy at the Robert H. Smith School of Business at the University of Maryland, Mr. Saltzman called for a collective renewed focus on clear, prescriptive, and transparent rules that effect behaviors and produce substantive outcomes. He cautioned that he is starting to see two trends, one toward process-based regulation and another toward institution-focused enforcement, both of which he argued could potentially leave the banking system vulnerable to the risks regulatory and industry reform efforts are trying to mitigate.