Press Releases

Release Date: February 7, 2007

SIFMA Statement in Response to Changes Enacted Today By the Connecticut Legislature

Contact:
Jeannie Bunton, 202-216-2067

Washington, DC – “Connecticut’s legislators, its Treasurer, and its other elected and appointed officials clearly recognized problems in the existing law, and have crafted a solution that is a marked improvement,” said SIFMA General Counsel Ira Hammerman. “SIFMA and its member firms commend them for their efforts. Our industry continues to support reasonable laws that serve the public interest by both ensuring the safety and privacy of families and upholding the goals of Connecticut’s campaign finance statute.”

Background:

On January 2, 2007, The Hon. Stefan R. Underhill, U.S. District Court (D. Conn.) granted a preliminary injunction to stop the state from publishing the names of dependent children of state contractors on the Connecticut State Election Enforcement Commission’s Internet site.  His decision came in response to SIFMA’s suit (filed on December 15, 2006) over the posting provisions of Connecticut Campaign Finance Law, which require the names of children and spouses of state contractors to be published on the Internet by December 31, 2006.  SIFMA argued that the disclosure provision of the Law is unsafe and unconstitutional.

After a preliminary injunction was granted by the court, the state legislature revisited the issue, drafting new legislation, which was adopted today. 

View the legal complaint, and other resources on this issue here.

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The Securities Industry and Financial Markets Association brings together the shared interests of more than 650 securities firms, banks and asset managers. SIFMA's mission is to promote policies and practices that work to expand and perfect markets, foster the development of new products and services and create efficiencies for member firms, while preserving and enhancing the public's trust and confidence in the markets and the industry. SIFMA works to represent its members’ interests locally and globally. It has offices in New York, Washington D.C., and London and its associated firm, the Asia Securities Industry and Financial Markets Association, is based in Hong Kong.