SIFMA today briefed members of the media on the Association’s priorities for 2012 and discussed the current state of the financial sector.
SIFMA senior leadership, including SIFMA Chairman Jerry del Missier, Co-Chief Executive Officer at Barclays Capital, SIFMA President and CEO Tim Ryan, and SIFMA Executive Vice Presidents Randy Snook and Kenneth E. Bentsen, Jr. discussed a number of public policy and business areas, including:
- Continued Implementation of Dodd-Frank
- Volcker Rule
- European Outlook and Global Issues
- OTC derivatives Implementation
- Securitization
- Municipal Bond Market
"It's pretty clear we're coming into 2012 with an unprecedented degree of layers of uncertainty around the economy and around our industry," said Jerry del Missier. "We have in Europe the single biggest macro factor that dominated in 2011 and will continue to be the single, biggest issue we face in 2012 .. On top of that, we have reforms and new regulations that will change the very structure of the markets we operate in. Here in the U.S., the Dodd-Frank rules will be a major issue that we will have to deal with."
"2011 was the real beginning of implementation for financial regulatory reform both in the U.S. and in Europe,"said Tim Ryan. "We at SIFMA and our colleagues in London and Brussels, which is AFME, have been working closely with all of our members, which is basically everybody in the markets business, to try to get the rules done in a responsible, reasonable and effective fashion. We will continue to be active and positive participants."