SIFMA today released a statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding the Department of Treasury’s report in response to President Trump’s executive order calling for review of the nation’s financial regulatory framework and its impact on the markets and the economy:
“We commend Secretary Mnuchin and the Treasury Department staff for conducting a thorough review of our financial regulatory system. The U.S. has implemented hundreds of regulations since the financial crisis –supplementing an already expansive regulatory framework established throughout the prior century. Clear market rules and prudent capital standards can provide investor confidence and financial stability necessary for robust markets, capital formation and economic growth. But redundant and conflicting rules, or measures that unnecessarily outweigh stability over investment can result in inefficient regulation and stifle our growth potential. Given the multitude of regulatory initiatives over the last decade alone, notwithstanding the decades prior, the time for a comprehensive review is due and we look forward to reviewing the Treasury’s report.”
