SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the finalization of a proposal modifying the rules for determining control of a banking organization by the Board of Governors of the Federal Reserve System (FRB):
“SIFMA applauds the focus on simplification and providing greater clarity regarding the controlling influence test. We urge the FRB to continue exploring additional changes to ensure U.S. financial markets and banking organizations remain competitive, continue to be positioned to drive innovation and growth and are fully able to meet their customers’ capital markets and asset management needs.”
