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.

February 27, 2015

Barbara Roper's Factual Inaccuracy

By: Kenneth E. Bentsen Jr.

Red-Line 150x150 Barbara Roper’s recent blog post this past Tuesday entitled “Industry to DOL: (Don’t) Mind Your Business” is not factually accurate.

Roper asserts that my statement, “the brokerage industry is highly regulated by the SEC and FINRA, including with respect to retirement accounts" is “irrelevant and wrong” because the Department of Labor (DOL), not the SEC and FINRA, has exclusive rule-writing authority under the Employee Retirement Income Security Act (ERISA).

We do not contest the DOL’s rule-writing authority. However, it is equally clear and unarguable that the SEC and FINRA have plenary authority and jurisdiction over all....... Read more...

February 23, 2015

ICYMI: Bentsen: Retirement Advice Regulation Would Hurt Savers

By: Kenneth E. Bentsen, Jr.

Ken BentsenKenneth E. Bentsen, Jr., President and CEO of SIFMA, joined Betty Liu on Bloomberg TV to discuss the proposed retirement advice regulation endorsed by the White House today. The following are key excerpts from the interview, "Proposed Broker Rules Ignore Existing Law, Bentsen Says."

The Proposed DOL Rule Will Limit Access To Education And Advice.  "Our concern with the Department of Labor's proposal has always been, in their previous proposal, that they would cut off access to education for investors, force them into higher-cost advisory accounts, which our members also provide but are services that people have said they don't want to buy. On the lower end of the scale, it would cut them off completely from any education or advice.".... Read more...

February 09, 2015

How to Be Cyber Resilient: From the Floor of the FINRA-SIFMA Cybersecurity Conference

By: Karl Schimmeck

CybersecurityOn February 4, FINRA and SIFMA joined forces to host a full-day conference dedicated to discussing important issues around cybersecurity for brokerage and advisory firms. The program fostered a culture of risk management and protection from cyber threats for financial institutions and their clients, and addressed the latest regulatory developments and guidance.

Cyber attacks are increasingly a major threat to national security and the U.S. financial system, and we are all working hand in hand to protect the integrity of the markets and the millions of Americans who use financial services every day. .... Read more...



Learn How ›


Sign up for e-mail alerts:

First Name:

Last Name:


Enter ›

SIFMA Blog Sign-up by RSS feed


Katrina Cavalli


Liz Pierce  



Carol Danko

Search Blog

Post a Comment

We encourage you to submit comments, queries and suggestions on our blog entries. Comments must be relevant to the post, and contribute to a substantive and informed dialogue for our fellow blog readers. We will post them below the entry, subject to the following guidelines:

View Guidelines

  • Please be thoughtful: Comments must be relevant to the post.
  • Please be brief: Comments are limited to 1500 characters. 
  • Please be prompt: Comments submitted more than one week after the blog entry appears may not be posted. 
  • Please be on-topic and patient: Comments are moderated and will not appear until they have been reviewed to ensure that they are substantive and clearly related to the topic of the post. 

This is a community please treat others with respect.  Specifically, please refrain from comments that are:

  • self-promotional or commercial in nature;
  • investment advice, or mentions of individual stocks;
  • abusive, harassing, or threatening;
  • obscene or vulgar; or
  • as well as comments that constitute a personal attack.  

We reserve the right not to post a comment; no notice will be given regarding whether a submission will or will not be posted.

Please contact us directly if you have any questions or suggestions.
Kate Zickel
Michelle Vandamme
Jeana Zamanski

Market Data