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Good morning, and welcome to SIFMA’s Operations Conference and Exhibit. I’m Randy Snook, executive vice president for business practices and policies at SIFMA. Thank you for joining us here in Scottsdale for this important event.
Clearly, this is a critical time for the financial industry as we are now seeing the potential cumulative impact of new regulation. We are more than halfway through the Dodd-Frank regulatory process –a massive undertaking that requires at least 400 new rulemakings that touch every corner of our industry, from market function to securities products. Ultimately, these rules will impact investment opportunity, capital formation, and the business models of financial firms in this country.
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