T. Timothy Ryan
President and Chief Executive Officer
Securities Industry and Financial Markets Association
"Later today the Senate will pass historic financial reforms, sending them to President Obama for his signature," said SIFMA President and CEO, T. Timothy Ryan, opening SIFMA’s Regulatory Reform Summit. And indeed was the case – later that same afternoon, the Senate passed the Dodd-Frank Wall Street Reform and Consumer Protection Act by a 60 to 39 vote.
“All told … Dodd-Frank … requires over 250 rulemakings, studies and other regulatory actions to be completed by over a dozen regulatory agencies, including the newly established Financial Stability Oversight Council and the Bureau of Consumer Financial Protection. Ensuring effective implementation and compliance will require an expansive effort for both regulators and the industry itself. As part of that process, our industry will also work hard to communicate what these changes will mean for the American families, investors and businesses who are our clients,” said Mr. Ryan.
“Our goal has been, and will continue to be, working to ensure financing and the availability of capital to support innovation in American, strengthen our economy and create jobs and we will do so within the new framework that will be voted on today by the Senate.”
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Other Regulatory Reform Highlights
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