SIFMA today issued the following statement, from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Securities and Exchange Commission’s proposed amendments to Exchange Act Rule 15c2-11:
“SIFMA believes the proposal today from the SEC stating that Rule 15c2-11 applies to equity securities is the right and final step in the years-long process of seeking clarity on the rule’s application. As we have long noted, the rule was designed for and has been solely applied to equity markets for over 50 years. We appreciate the Commission’s attention to this issue. SIFMA will review the proposal with our members and looks forward to commenting.”
