Washington, D.C., December 10, 2019 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, commending the agreement to proceed on the United States, Mexico and Canada Agreement (USMCA) and strongly supporting its adoption:

“USMCA includes a robust financial services chapter updating the existing language in the North American Free Trade Agreement. SIFMA and its members are now eager to see the necessary legislation introduced, passed and implemented. For the first time in any U.S. trade agreement, USMCA includes a prohibition on forced data localization while ensuring regulators maintain the necessary access. We strongly support this outcome and believe it should be replicated in future trade agreements beyond USMCA.”

The agreement enhances the depth of market access in cross-border financial services by:

o   Extending the market access article to financial services thereby...

 Attracting more than 400 executives, the annual Asset Management Derivatives Forum brings together market participants from all sides of a trade to examine the latest developments in global derivatives trading and clearing, operations and regulation. The Forum presents a unique opportunity to connect investors with market expertise in over-the-counter and exchange-traded derivatives, attracting attendees from the joint membership of FIA and SIFMA AMG.

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Washington, D.C., December 10, 2019 – SIFMA today announced Justin Sok joined the Association’s Federal Advocacy team.

As a Managing Director, Mr. Sok is responsible for a range of advocacy issues including tax, trade, sanctions, nominations and anti-money laundering policy. He reports to Jamie Wall, Executive Vice President of Advocacy at SIFMA.

“I am thrilled to have Justin join SIFMA’s advocacy team,” said Ms. Wall.  “His substantial experience developing and translating complex financial policy at both the Department of the Treasury and on Capitol Hill gives him a clear understanding of the importance tax, trade and other financial legislation and regulation have to the capital markets and the practical implications of policy decisions for our member firms.”

Joseph Seidel, chief operating officer of SIFMA added, “Justin brings significant Executive branch and Capitol Hill experience to SIFMA. His comprehensive skill set is a great addition...

Washington, D.C., December 6, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the potential need to modify rules governing liquidity, as noted by former member of the Board of Governors of Federal Reserve Daniel Tarullo yesterday at a Brookings Institute Symposium:

“We commend statements and recommendations made by former Governor Tarullo on recent repo market volatility, which merit review by policymakers. Specifically, his acknowledgement that certain aspects of the post crisis capital and liquidity rules, which include liquidity requirements around Recovery and Resolution Planning, the G-SIB Capital Buffer, the Enhanced Supplemental Leverage Ratio, the Liquidity Coverage Ratio and Liquidity Stress Testing (CLAR), may have played a part in recent repo market volatility which prompted the Federal Reserve to inject additional liquidity into the market on an ongoing basis. It is critical to the functioning of the...

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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...

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...

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...

SIFMA’s Annual Meeting is where the capital markets meet. In November 2019, CFTC Commissioner Dawn Stump sat down with SIFMA president and CEO Kenneth E. Bentsen, Jr. for a candid one-on-one conversation. Watch their discussion for insights into what's ahead for the capital markets.

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

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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!

Recently, SIFMA hosted its Annual Meeting, The Capital Markets Conference. With two days of presentations and events and hundreds of attendees, we gained insights into top-of-mind topics for market participants. Inside this note, we recap just some of what was seen and heard, as well as key themes heard throughout the year.

Bread for the City believes nobody should have to forego holidays, celebrations, and family traditions due to financial circumstances, and we're proud to support this mission.

During the month of November, we will raise donations to provide 11,000 community members living on low-incomes with a turkey and all the trimmings. Just $38 provides a holiday meal kit for a family of four.

Thank you for supporting DC neighbors, through this drive, and standing with the Bread for the City community!

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

When it’s completed, the CAT will become the world’s largest database of equity securities and listed options transactions, including: