Asset Management Group: Who We Are
The Asset Management Group (“AMG”) is the voice for the buy side within the securities industry and the broader financial markets. The AMG is one of the three major business groups of the Securities Industry and Financial Markets Association (“SIFMA”), which represents more than 650 member firms of all sizes, in all financial markets in the U.S. and around the world. As part of SIFMA, the members of the AMG have direct access to counterparts at broker-dealer firms. Together, asset managers and broker-dealers jointly and efficiently work to resolve common concerns.
The leadership of AMG is comprised primarily of Chief Operating Officers and other senior executives at asset management firms. The members of the Group meet regularly to advance their advocacy efforts, develop enhancements to market practices, and work with trading partners in order to increase efficiency and reduce risks and costs. Collectively, the members of the Asset Management Group represent approximately $15 trillion of assets under management.
The AMG works closely with its operations oriented affiliate, The Asset Managers Forum (“AMF”), in its investment operations- focused initiatives. Read more about the AMF on page 6. The AMG and AMF are supported by a professional staff that assists its members in achieving their goals.
Advocacy
One of AMG’s primary objectives is to represent its members’ advocacy, legislative, regulatory and business interests with Congress, SEC and other regulators in the US and overseas.
On the advocacy front the AMG is:
- Providing support to SIFMA’s legislative initiative concerning savings and retirement.
- Analyzing the impact on asset management firms of the SEC’s December, 2006, hedge fund proposals.
- Reviewing the buy side implications of the proposal for a single SRO regime in the securities industry.
- Monitoring relevant MSRB and NASD/TRACE developments relating to price transparency and fair pricing rules.
- Addressing new SEC interpretations relating to client commission practices under Section 28(e) of the Exchange Act.
- Regularly providing members updates concerning industrywide accounting policies as well as Basel II developments.
Market Practices and Standards
The AMG is focused on market practices and standards. As a Group, our goal is to work on initiatives that promote market efficiency and cost savings for our membership, our clients, and the markets, as a whole. Currently, the AMG is working on:
- Developing fixed-income best execution guidelines for asset management firms. The goal is to issue a proposed fixed-income best execution pronouncement in 2007.
- Enhancing DTCC’s Trade Information Warehouse for derivatives for the benefit of asset managers. The AMG has a seat at the Senior Oversight Group table and speaks for asset managers on implications with regard to the totality of the business interests of traditional buy side firms and implementation of the Warehouse.