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.

October 15, 2015

Senior Investor Q&A with Fox Business: DOL's Retirement Regulation and the Financial Fraud Epidemic

By Casey Dowd and Lisa Bleier

DOL - Don't Make It Harder to Save for RetirementThe following Q&A with Casey Dowd was originally published on on October 14, 2015.

The world of financial investments can be a very complex one especially when average investors are expected to decipher new regulation such as The Department of Labor’s (DOL) proposed retirement regulation. This could have a great impact on people of all backgrounds investing in financial markets.

Lisa Bleier, Managing Director & Associate General Counsel at the Securities Industry and Financial Markets Association (SIFMA), which is the voice of the nation’s securities industries, sat down with me for to discuss why the organization is opposed to the DOL’s retirement regulation and the impact it could have on senior investors. Here is what you need to know.  

 ....

October 09, 2015

The Hill: A Note on Cybersecurity Awareness Month

By Kenneth E. Bentsen, Jr.

The following Op Ed was originally published in The Hill on October 9, 2015.

Network Cables A large-scale cyber attack is one of the most serious threats facing the financial system and the broader U.S. economy. While the probability of such an attack may be low, the impact would be quite large and is not to be ignored. October is Cybersecurity Awareness Month and a good time to take stock of what’s being done and could be done to enhance the financial services industry’s ability to prepare for, respond to and recover from a systemic attack that could impact consumers across the country. 

From criminals seeking financial gain, to nation states committing corporate espionage, to cyber terrorists seeking to dislocate markets and destroy confidence, cyber threat actors are becoming more sophisticated, making cybersecurity an area of risk that must be actively managed by firms similar to all other areas of risk. An active partnership between the industry and government grounded in robust information sharing is widely recognized as the most effective way to help mitigate these threats..... Read more...

October 07, 2015

The Neurology of Financial Decision-Making

By Natalie L. Denburg, PhD

Senior Investor - 158x150Conventional wisdom holds that aging is more or less synonymous with memory loss. So, it may surprise you that this post, written by a neuropsychologist about financial decision-making in older adults, does not include the term “memory” in its title.

One in five Americans aged 65 or older have been victimized by financial fraud, and yet the segment of the population with memory-related impairments, known as dementia, is only a fraction of this. How does a seasoned, articulate and educated professional without a diagnosis of dementia become convinced they won a foreign lottery they never entered? Or that they’ve inherited millions from a mysterious relative? .... Read more...

October 06, 2015

Labor Department Urged To Heed Constructive Ideas To Fix Fiduciary Proposal

By: Kenneth E. Bentsen, Jr., Dale E. Brown, Frank Keating, Dirk A. Kempthorne And Tim Pawlenty

The following Op Ed was originally published in Roll Call on October 5, 2015.

DOL, Fiduciary, ERISA, RetirementIs President Barack Obama's administration serious about considering feedback in response to its proposed regulation to change the way Americans, especially low- and moderate-income Americans, are informed and educated about retirement planning?

If so, why would it tell members of Congress that the draft regulation would not be re-proposed - even before public hearings were held or before all written comments were submitted before the Sept. 24 deadline?

Building a big table for discussion is a good idea. Discussions are the most meaningful if useful suggestions are considered and the dialogue is truly constructive. Before issuing a final regulation, the administration should take a fair, transparent and common-sense approach, make the substantive changes it claims it will, then issue a proposal that the public can review and comment on. Changes are sorely needed to avoid leaving low- and moderate-income Americans without the education and advice they want and need..... Read more...



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