Asset Management Group (AMG)



Overview

SIFMA's Asset Management Group (AMG) within the Business Policies and Practices section is the voice for the buy-side of the securities industry.

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.  (View the SIFMA AMG Member Directory)

The AMG works closely with its operations oriented affiliate, The Asset Managers Forum (AMF), in its investment operations-focused initiatives.

Related Resources

Asset Management Group Committees

Steering Committee (General Regulatory and Market Oversight Committee)

Objective: Direct the prioritization of AMG initiatives.  Address more general regulatory issues, such as Non-bank Systemically Important Financial Institutions (SIFI), cybersecurity and the JOBs Act.

 

Bond and Loan Committee 

Objective: Address issues impacting the fixed-income marketplace, including market structure for the trading of bonds, bond and loan liquidity and issues related to municipal bonds, bank loans and creditors’ rights.

 

Derivatives Committee 

Objective: Work with industry stakeholders and key regulators to ensure that global derivatives rules are implemented in a manner that promotes transparency, enhances liquidity and increases customer protection, without unduly increasing costs.  The Derivatives Committee also assists with the development of market structure and tools to help asset managers comply with derivatives rules.  Examples of issues addressed by this committee include advocacy for workable Commodity Pool Operator (CPO) rules, flexible means for executing swaps transactions on Swap Execution Facilities (SEFs), less onerous margin requirements, cross-border harmonization of derivatives rules, ensuring customer collateral protection and justifiable position limits requirements, among others.  Frequently address, and work with, key regulators on these issues.  

 

Equity Market Structure Committee 

Objective: Formulate industry policy positions on equity market structure-related issues, such as tick sizes, high-frequency trading, dark pools, transparency and disclosure, SIPs, circuit-breaker/“limit-up, limit-down” and access and liquidity fees.

 

Money Market Committee 

Objective: Assist with the implementation of money market fund reforms, from a legal, compliance and operational perspective.  

 

Securities Financing Transactions (SFT) Committee 

Objective: Address proposed domestic and global regulatory and market changes to repo and sec lending markets (and other securities financing transactions), including haircuts/margin requirements, data templates and reporting and other market reforms to improve disclosure and mitigate risk.

 

Securitization Committee 

Objective: Work with industry stakeholders and key regulators to ensure the development of a robust securitization market.  Representative issues addressed by this committee include: tackling the attempted use of eminent domain as a solution for municipalities with a significant number of underwater mortgages; assisting the NY Fed-sponsored Treasury Market Practices Group with their Fails Charge; addressing housing finance reform (e.g., the FHFA Single Platform Initiative; GSEs; QM/QRM); and minimizing the impact of CPO rules on securitization vehicles.  

 

Tax Committee 

Objective: Address sweeping tax-related reforms.  Recent areas of interest have included Foreign Account Tax Compliance Act (FATCA), derivatives tax proposals, tax treatment of derivatives transactions, EU Financial Transaction Tax and amending, and extending the compliance date for, the report of Financial Bank and Financial Accounts (FBAR).  

 

Volcker Covered Funds Committee 

Objective: Address the regulators’ final Volcker Rule as it applies to funds.  Develop industry standards and solutions for compliance with the rules.  Assess issues that require further clarity from the regulators and pursue regulatory guidance and extensions, as necessary.  Assist in the structuring and implementation of any changes necessary to certain impacted investment vehicles, such as tender option bonds (TOBs) and collateralized loan obligations (CLOs).

 

Subgroups of the Asset Management Group 

Chief Litigation & Enforcement Officers Working Group 

CPO/CTA Working Group 

Cross-Border Working Group 

Distribution Working Group 

EIRSA Eligible Investments Working Group 

EMIR Working Group 

Municipal Advisor Working Group 

Russian Sanctions Working Group 

Securities Lending Working Group 

SDR Reporting Working Group 

Stay of Termination Rights Working Group

Systemic Regulation Working Group 

Trade Execution Working Group 

Tri-Party Repo Working Group

Asset Managers Forum Committees

AMF Steering Committee 

Objective: Set direction for the AMF and determine member needs; oversee initiatives, committees and events; and educate AMF membership on important industry topics, regulatory changes with operational implications and industry developments. 

 

Collateral Committee

Objective: Provide education to the buy-side for key issues, applications and best practices in the collateral management space. Discuss and find solutions for current challenges for both bi-lateral and cleared transactions; discuss best practices on common buy-side issues; determine critical performance indicators to enable firms to benchmark their performance; and monitor industry changes to evaluate how they impact the buy-side community. 

 

Custodian Committee 

Objective: Mobilize custodians who are dedicated to working alongside asset managers, brokers and government entities in order to address industry and regulatory challenges. Fosters industry best practices and standards and prepares for operational challenges. 

 

Derivatives Operations Committee

Objective: Focus on key operational challenges related to swaps and over-the-counter derivatives, including processes related to electronic execution and central clearing of derivatives. Seeks improvements in derivatives processing and strives to reduce operational risk. 

 

Operational Risk Committee 

Objective: Discuss and recommend best practices for defining, managing and monitoring operational risk. Explore emerging issues/ regulations and examine tools and techniques that may help with the management of operational risk. 

 

STP/Trade Processing Committee

Objective: Provide an organizational structure to focus on the wide variety of trade processing challenges that asset managers face. The Committee’s recent focus has been the migration to shorter settlement cycle in the EU, and the impacts on asset managers in the U.S. 

 

Subgroups of the Asset Managers Forum 

Derivatives Clearing Standardizations Working Group

Tri-Party Repo Working Group

 

 

 

 


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Contact

For more information on the Asset Management Group, please contact:

Tim Cameron

202.962.7447 
Matt Nevins
212.313.1176
Lindsey Keljo
202.962.7312

Elisa Nuottajarvi

212.313.1166

 

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