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."

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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...



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