New York ? President Barack Obama delivered a stern message to Wall Street on Monday: Don’t forget what we did for you.

A year after the failure of investment bank Lehman Brothers and an unprecedented government campaign to prevent the collapse of the financial system, Obama encouraged the industry to reform itself voluntarily and not to stand in the way of new laws meant to prevent excesses from returning.

His administration has two major messages: The economy and financial system are indeed stabilizing. But that should not be an excuse for Wall Street to resume practices that precipitated a deep recession and trillions of dollars in government bailouts.

“Normalcy cannot lead to complacency,” Obama told an audience of bankers, traders, lawmakers and others at Federal Hall, steps from the New York Stock Exchange.

Obama was seeking to refocus attention on proposals to overhaul financial regulation. His administration has identified this as a priority, but efforts have lost some momentum as the financial crisis has eased and lawmakers are occupied with the health care debate.