Pennsylvania + Wall

By Thomas Price and David Strongin

Today, SIFMA held a seminar on the legal entity identifier (LEI) initiative in coordination with our global affiliate, GFMA. The development of a uniform, globally consistent LEI framework is critically important for improving systemic risk management across the global financial industry. As such, helping to move this initiative forward is one of our top priorities. .... Read more...

By Tim Ryan

 Appearing today on the New York Times website, SIFMA President & CEO Tim Ryan responded to the February 27 editorial "Not What Paul Volcker Had in Mind."

To the Editor:

Your Feb. 28 editorial “Not What Paul Volcker Had in Mind” raises concerns about industry comments about the Volcker rule, a provision of the Dodd-Frank financial reform law, but disregards the damaging effects this rule could have on markets.
 .... Read more...

By Lisa Bleier

Today, SIFMA along with IRI and FSR responded to the Department of Labor’s (DOL) request about what information we trades and our member firms could provide as part of the Department’s “expanded” regulatory impact analysis of their proposed change to the definition of a fiduciary under ERISA, which impacts 401(k) plans and Individual Retirement Accounts (IRAs).  

The bottom line of our letter: we continue to work with our member firms on identifying information we can provide to the DOL, but many questions remain, especially just how the Department will use this information.  .... Read more...