Pennsylvania + Wall



 

Pennsylvania + Wall provides commentary on a broad range of current financial, economic and regulatory reform topics. The views expressed are those of the authors, and do not necessarily reflect the position of SIFMA.

August 26, 2016

Basel Reforms Require Further Review

By Kenneth E. Bentsen, Jr.

The following commentary was originally published in Bloomberg Brief: Financial Regulation & Risk  on August 26, 2016.

Ken BentsenKenneth E. Bentsen, Jr., President and CEO of SIFMA, and CEO of the Global Financial Markets Association (GFMA), discusses the wide-reaching impact of Basel reforms on markets and the economy following the release of a report by Oliver Wyman, commissioned by the GFMA. GFMA is SIFMA's global affiliate.

"Following the financial crisis, G-20 Leaders agreed to take steps to enhance financial stability, which led to an unprecedented regulatory overhaul driven by the Financial Stability Board and Basel Committee on Banking Supervision. This resulted in significant increases in capital and liquidity and lower leverage, complemented by measures to improve market infrastructures and reduce risks from concentrated exposures and interconnectedness. While the standards developed greatly improved the resilience of the financial system, which has since proved itself in both real and simulated periods of stress, they were developed independently and their impacts were evaluated mainly in isolation. As a result, there has never been a comprehensive analysis of their aggregate impact on the structure and functioning of banks and financial markets, nor on economic costs, growth and job creation."

Continue reading at newsletters.briefs.bloomberg.com.... Read more...

August 01, 2016

Funding Innovation in Biotech: A Conversation with Congress and Industry Analysts

By: Kyle Brandon

It can take 14 years and up to $2 billion to bring a medicine to market. How does the biotech industry fund extraordinary innovations? Venture capital investments and capital markets (i.e. IPOs and secondary offerings).

Biotechnology is an evolving industry that improves lives through the development of treatments and cures for some of today's most pressing medical challenges, while also fueling innovation, economic growth and job creation across America. At a roundtable discussion on Capitol Hill, Members of Congress and industry analysts from RBC Capital Markets and Jefferies discuss the state of the biotech industry today and the role of America's capital markets in funding new innovations..... Read more...

July 27, 2016

A Wall Street Experience: 2016 InvestWrite Winners Visit New York City

A Wall Street Experience: 2016 InvestWrite Winners Visit New York City This June, the SIFMA Foundation hosted two middle-school and two high-school students, their families, and their teachers in the financial capital of the world: New York City. The students earned their tickets by placing first nationally in the fall and spring sessions of SIFMA Foundation’s InvestWrite essay competition. InvestWrite challenges students to think critically, and analyze various investment scenarios and generate long term recommendations. The four winners were selected from more than 20,000 participants. .... Read more...

July 26, 2016

The Cybersecurity Industry Today: A Conversation with Congress and the Financial Services Industry

By: Tom Wagner

At a roundtable discussion on Capitol Hill, Members of Congress gathered with financial industry experts from Goldman Sachs, Morgan Stanley and Wunderlich Securities to discuss the state of the cybersecurity industry today and the role of America's capital markets in funding cybersecurity initiatives..... Read more...

July 15, 2016

Podcast: SIFMA's Economic Advisory Roundtable Revises 2016 GDP Growth Down to 1.8%

Stuart Hoffman, senior vice president and chief economist for The PNC Financial Services Group and Chair of SIFMA's Economic Advisory Roundtable, discusses the Roundtable's U.S. Mid-Year 2016 Economic Outlook. .... Read more...

July 14, 2016

Social Impact Investing: A Conversation with Congress and the Financial Services Industry

By: Chris Killian

Social impact investing describes the direction of investment funds to opportunities or companies that have desirable environmental, governance or social factors, and is related to social finance, which involves the use financial assets or instruments to fund projects that have a positive social or environmental impact.

Through impact investing, America's capital markets enable programs to improve local outcomes and help communities combat the challenges of long-standing problems such as poverty, pollution, and other social needs. .... Read more...

June 28, 2016

OPS 2016: How Participants Are Solving Problems, Transforming the Industry into the New Reality

By Tom Price

Leaders in Financial Services operations and technology gathered on May 2-5, 2016, at the 43rd annual SIFMA Operations Conference & Exhibition to address industry challenges and share perspectives and strategies. SIFMA's Executive Vice President, Business Policies and Practices, Randy Snook, opened the conference by reflecting on the dynamic changes that are transforming the securities industry, "We are in the midst of several seismic shifts fundamentally changing financial services." Among the changes, three issues dominated discussions:

The Move to the T+2 Settlement Cycle - With detailed resources available, including the
T+2 Industry Implementation Playbook , experts generally believe that the transition to the shorter settlement cycle should proceed smoothly. However, for those firms not yet mobilized, the message was clear: work must start today. Coordination and collaboration among firms and agencies is the key to success..... Read more...

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