Washington, D.C., December 17, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which was included in the omnibus appropriations bill passed by the U.S. House today:

“SIFMA applauds House passage of the bipartisan SECURE Act 2019, which will enable even more Americans to participate in our retirement system and better prepare for a secure retirement. This legislation takes important steps toward enhancing the private retirement system, including commonsense provisions that would encourage small businesses to offer retirement savings plans and encourage individuals to utilize the options that are available to enjoy retirement security. These changes expand the availability of employer-sponsored savings plans, offer encouragement for employees to participate in a plan, and expand the use of critical tax incentives. SIFMA...

Join the leading names in social media and experts in wealth management for an industry discussion on the best practices, compliance considerations and latest developments in the use of digital communications platforms.

The #SIFMAsocial seminar program explores a wide range of topics including:

Each year, the SIFMA Insurance- and Risk-Linked Securities (IRLS) Conference brings together thought leaders and subject matter experts for a robust industry discussion on the numerous factors that are reshaping the ILS markets and driving further growth.

Register for IRLS 2020:  Early bird rates end this Friday, December 20, 2019

On March 1-3, IRLS 2020 will explore:

The combined businesses of SIFMA’s members represent 75% of the U.S. broker-dealer sector by revenue and 50% of the asset management sector by assets under management. SIFMA is a 501(c)(6) organization. Together, we are invested in America.

For 52 years, SIFMA’s C&L Annual Seminar has served as the preeminent event for compliance and legal professionals working in financial services. Throughout the three-day program, participants hear directly from industry leaders and regulators on the latest developments and trends and build professional relationships to collaborate better.

With focused discussions by noted keynote speakers and subject matter experts, attendees will have the opportunity to earn CLE credit, including diversity and ethics credit, and network with peers.

Discover the 2020 C&L program tracks here!

Welcome to SIFMA’s podcast from our annual State of the Industry media briefing. In this segment, our leadership discusses the state of the capital markets and priority issues for the financial services industry in 2019. Please welcome the Chair of our Board of Directors, Joseph E. Sweeney, President of Advice & Wealth Management, Products and Service Delivery for Ameriprise Financial and SIFMA’s President and CEO, Kenneth E. Bentsen, Jr.

Washington, D.C., December 17, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which was included in the omnibus appropriations bill passed by the U.S. House today:

“SIFMA applauds House passage of the bipartisan SECURE Act 2019, which will enable even more Americans to participate in our retirement system and better prepare for a secure retirement. This legislation takes important steps toward enhancing the private retirement system, including commonsense provisions that would encourage small businesses to offer retirement savings plans and encourage individuals to utilize the options that are available to enjoy retirement security. These changes expand the availability of employer-sponsored savings plans, offer encouragement for employees to participate in a plan, and expand the use of critical tax incentives. SIFMA...

SIFMA’s Anti-Money Laundering & Financial Crimes Conference brings together leaders from the securities industry, regulatory agencies and law enforcement to discuss the latest developments and priorities in the AML and financial crime space. Throughout the two-day program, attendees will hear directly from the industry’s regulators; participate in closed-door sessions; and network with policymakers and peer compliance professionals.

Celebrating its 20th year, this is the only conference in the AML and financial crime space tailored to broker-dealers and other members of the securities industry.

New York, N.Y., December 16, 2019 — SIFMA has confirmed its previous recommendations for an early close at 2:00 p.m., EST, on Tuesday, December 24 and a full market close on Wednesday, December 25 for the trading of U.S. dollar-denominated fixed income securities in the U.S. in observance of the Christmas Holiday.

These recommendations apply to trading of U.S. dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading in bankers’ acceptances, commercial paper and Yankee and Euro certificates of deposit.

The early close will not affect the closing time for settlements.

SIFMA’s recommended early and full market closes are recommendations only; each member firm should decide for itself whether its fixed income departments remain open for trading. All SIFMA recommendations are subject to change due to market...

Washington, D.C., December 13, 2019 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding agreement between the United States and China on a phase one trade deal:

“SIFMA welcomes news that the United States and China have reached a conclusion to their trade and investment discussions and commends the Trump administration for securing this critical outcome. Securing a level playing field in China’s market for U.S. based financial services firms is a long-standing goal of SIFMA. We will examine this agreement closely and are eager to learn more about plans for its implementation.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional...

Capital markets fund 65% of economic activity in the United States; their depth, liquidity and efficiency is key to the success of our country. From market activity to public policy and industry-wide initiatives, our 2020 Outlook explores what matters to the U.S. capital markets.

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The Consolidated Audit Trail, or CAT, is a major regulatory initiative by the U.S. Securities and Exchange Commission and 24 self-regulatory organizations (SROs) – including FINRA, and stock and options exchanges – to significantly enhance regulators’ ability to monitor, analyze and surveil trading activity. Under the CAT, broker-dealers will be required to report every equity and options transaction, as well as certain personal information of retail and institutional clients, to a database operated by the SROs.

SIFMA and its members are supportive of the CAT and its regulatory intent. However, we have repeatedly expressed strong concerns regarding the risks to our customers’ information, including the wholesale collection of personally identifiable information, or PII.

Data security must be a paramount concern with a database this large. In this podcast, SIFMA president and CEO, Kenneth E. Bentsen, Jr., is joined by Ellen Greene, Managing Director at...

Capital markets fund 65% of economic activity in the United States; their depth, liquidity and efficiency is key to the success of our country.

SIFMA’s members represent the broker-dealers, investment banks and asset managers who match capital to ideas, driving growth and investment opportunity. From market activity to public policy and industry-wide initiatives, our 2020 Outlook explores what matters to the U.S. capital markets. Explore by section, including:

SIFMA’s Annual Meeting is where the capital markets meet. In November 2019, SIFMA president and CEO Kenneth E. Bentsen, Jr. sat down with our 2019 and 2020 Board Chairs, Jim Allen of RW Baird and Joe Sweeney of Ameriprise, to discuss SIFMA's priorities.

To view more video from the conference, visit sifma.org/annual.

New York, NY, December 11, 2019 – SIFMA today issued its 2020 and 2021 holiday recommendations for the trading of U.S. dollar-denominated fixed income securities in the U.S. and the U.K. All 2021 recommendations for Japan are subject to confirmation by the Bank of Japan. SIFMA will confirm its 2021 recommendations for Japan in early 2020.

The recommendations apply to trading of U.S. dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds, and secondary money market trading in bankers’ acceptances, commercial paper, and Yankee and Euro certificates of deposit.

SIFMA’s recommended early and full market closes are recommendations only; each member firm should decide for itself whether its fixed income departments remain open for trading. All SIFMA recommendations are subject to change due to market conditions. Early closes will not affect the closing time...

The SIFMA Economic Advisory Roundtable brings together Chief U.S. Economists of over 20 global and regional financial institutions. The twice-annual U.S. Economic Survey compiles economic forecasts from roundtable members, published prior to the upcoming Federal Open Market Committee (FOMC) meeting. This report analyzes economists’ expectations for: GDP growth, unemployment rate, inflation rate, interest rates, etc. It also reviews expectations for policy moves at the upcoming FOMC meeting, as well as discussing key macroeconomic topics and how these factors could impact monetary policy.

Compared with the June survey, the economists surveyed increased their GDP growth estimates for 2019 by 0.05% to a median forecast of 2.2%, on a fourth quarter over fourth quarter basis. For 2020, the median forecast was lowered by 0.1% to 1.8%, on a fourth quarter over fourth quarter basis.

“Despite the markdown in 2020 GDP growth, the economy is still expected to...

Washington, D.C., December 11, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr., on changes to FINRA’s examination and risk monitoring program:

“SIFMA commends FINRA for its recently announced examination program improvements. These long-awaited improvements result from the ongoing feedback FINRA received from our members and other stakeholders over the course of FINRA’s 360 review of its operations and programs. Since the FINRA 360 began in January 2017, SIFMA has taken every opportunity to provide feedback through comment letters and engagement with FINRA leadership and staff at meetings and conferences.  We are encouraged to hear FINRA plans to implement changes we have long sought, including:  a wholistic program organized around business models with knowledgeable examiners and less duplication, a single point of contact for firms to resolve issues more efficiently and effectively, increased time in...

Washington, D.C., December 10, 2019 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA President and CEO, on the Consolidated Audit Trail:

“SIFMA remains very concerned about investor data security of the CAT. SIFMA and its members are supportive of the CAT and its regulatory intent but have repeatedly expressed strong concerns regarding the risks to our customers’ sensitive financial data information, including the wholesale collection of personally identifiable information (PII) and transaction data being compiled in one place. This risk is further compounded by a lack of liability coverage for the broker dealers who are obligated to report to the CAT. Allowing twenty-four self-regulatory organizations (“SROs”) to have the ability to bulk download and store all such data, including transactions and customer data, on their own systems, dramatically increases exposure to data breach and theft. As SEC Chairman...