SIFMA today released a statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, in response to a speech by SEC Commissioner Robert J. Jackson, titled “Unfair Exchange: The State of America’s Stock Markets:
“We commend Commissioner Jackson for addressing these important issues, and we support his recommendations on market data and the role of exchanges as self-regulatory organizations, or ‘SROs.’ The concerns Commissioner Jackson raises are critical for the industry, and for years SIFMA has urged policy makers to act. SIFMA supports reforms on market data dissemination, including to ensure that the public market data feeds are robust and efficient and that fees for proprietary market data product, as Commissioner Jackson urged, do not unduly burden competition, are fair and reasonable. In addition, SIFMA supports reforms to the construct of exchanges as SROs, particularly the need to formally establish that exchanges are precluded from applying regulatory immunity to their commercial activities and that exchanges should no longer be protected by artificially low liability limits. We look forward to working with Commissioner Jackson and the SEC, as well as other policymakers, to address these important issues.”
Relevant SIFMA advocacy materials on these issues can found: here, here and here.
