Pennsylvania + Wall

SIFMA held its annual State of the Industry media briefing on December 3, 2015 in NYC. In this examination of the state of America’s capital markets, we discussed the need to achieve a regulatory balance that ensures our capital markets remain the most deep, liquid and well-functioning in the world. 

By John F. W. Rogers and Kenneth E. Bentsen, Jr.

The State of U.S. Capital Markets

#CapitalMarkets recognize and drive capital to best ideas and enterprises - John Rogers @GoldmanSachs, Chair 2016 #SIFMA Board of Directors

— SIFMA (@SIFMA) December 3, 2015

The U.S. has actively promoted a free market system around the world through public policy and private sector expansion, asserting capitalism as a catalyst for innovation, opportunity and dynamism. Innovation coupled with the free flow of capital has been an integral component for promoting the good-and-welfare, supporting job creation, economic development and prosperity..... Read more...

SIFMA's Economic Advisory Roundtable is composed of chief U.S. economists from several SIFMA member firms. Twice per year, the Roundtable publishes the results of a detailed survey on the U.S. economic outlook and rates forecasts.

Yesterday, the Roundtable released its "U.S. End-Year 2014 Economic Outlook," forecasting that the U.S. economy will grow at a 2.3% rate in full-year 2014 and 3.0% in 2015. The following is a Q&A with Diane Swonk, Chief Economist for Mesirow Financial Holdings, Inc. and Chair of the Economic Advisory Roundtable..... Read more...

By Kenneth E. Bentsen, Jr.

SIFMA held its annual State of the Industry media briefing on December 4, 2014 in NYC. In this review of the past year, we examined the role the capital markets play in the nation’s economic recovery; our efforts around cybersecurity, equity market structure reform, and preserving investor choice; and our policy agenda for the coming year.

How did the capital markets perform in 2014?
On the whole, 2014 was a good year for our industry and the clients we serve: our capital markets provided approximately 75% of financing for businesses in the U.S., and we matched retail and institutional investors with those sellers in the marketplace..... Read more...

By Tim Cameron

The advent of new regulations marks a key moment in the asset management industry. 

But what are those on the front lines of investing actually thinking? 

As an assortment of senior buy-side leaders shared during this year's SIFMA Annual Meeting, the thinking goes beyond industry-specific issues like market structure and liquidity, and affects every aspect of financial management. 

Assessing the new financial landscape  .... Read more...

The 2014 SIFMA Annual Meeting is right around the corner. 

This event is truly a unique experience that  serves as a one-stop resource for members and industry and market participants to receive updates on critical issues, as well as connect with colleagues and counterparts from throughout the business. Updates and news are provided by the primary sources of prominent policymakers and financial media. .... Read more...

By Timothy W. Cameron

On Thursday, Jacob Lew, Treasury Secretary and head of the FSOC, will testify before the House Financial Services Committee to talk about systemic risk in the international financial system.  It's vital that this discussion address the unique characteristics of asset management firms and how they are different from banks.

In April of 2012, the FSOC published a rule on the process for designating non-bank financial institutions as systemically important - so called SIFI designation. This framework - which was essentially a list of factors most pertinent to the banking industry - was not supported by extensive research, nor did it contain an approach tailored toward the targeted entities' business model. SIFMA's Asset Management Group is very concerned with the notion that asset managers and/or the funds they manage could be designated as SIFIs and, therefore, subject to prudential or bank-like regulation that could stifle their ability to serve individual investors..... Read more...

By Tim Ryan

 Welcome to Pennsylvania + Wall, SIFMA’s new blog.

SIFMA stands at the intersection of financial markets and public policy. Our blog will inform the dialogue on how public policy, regulatory rulemaking and legislative action impacts the functioning of financial markets and the industry, as well as families, individual investors, small businesses and the broad economy.  
 .... Read more...