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The Securities Industry and Financial Markets Association (SIFMA) today released the following statement from President and CEO Tim Ryan following President Obama’s signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“Today’s enactment of the Dodd-Frank Act marks an important step forward for America’s financial markets and its economy. We believe that a number of key provisions in the legislation will restore confidence and much needed stability to the markets and modernize our regulatory structure. As regulators now begin work on writing more than 250 rules required by the legislation, we’ll be working with each regulatory institution to ensure they strike the right balance between fair and full implementation of the law while not hindering the industry’s ability to finance economic growth and job creation. As an industry, we must also begin the hard work of communicating what these changes will mean for the American families, investors and businesses who are our clients.”
