Release Date: June 12, 2017
Contact: Carol Danko, 202-962-7390, [email protected]
SIFMA
Statement on Treasury’s Regulatory Reform Report
Washington, DC, June 12, 2017 – SIFMA today
released a statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO,
regarding the Department of Treasury’s report in response to President Trump’s
executive order calling for review of the nation’s financial regulatory
framework and its impact on the markets and the economy:
“We commend Secretary Mnuchin and the Treasury Department staff for
conducting a thorough review of our financial regulatory system. The U.S. has
implemented hundreds of regulations since the financial crisis –supplementing
an already expansive regulatory framework established throughout the prior
century. Clear market rules and prudent capital standards can provide
investor confidence and financial stability necessary for robust markets,
capital formation and economic growth. But redundant and conflicting
rules, or measures that unnecessarily outweigh stability over investment can
result in inefficient regulation and stifle our growth potential. Given
the multitude of regulatory initiatives over the last decade alone,
notwithstanding the decades prior, the time for a comprehensive review is due
and we look forward to reviewing the Treasury’s report.”
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SIFMA is the voice of the U.S. securities industry. We represent the
broker-dealers, banks and asset managers whose nearly 1 million employees
provide access to the capital markets, raising over $2.5 trillion for
businesses and municipalities in the U.S., serving clients with over $18.5
trillion in assets and managing more than $67 trillion in assets for individual
and institutional clients including mutual funds and retirement plans. SIFMA,
with offices in New York and Washington, D.C., is the U.S. regional member of
the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.