Press Release

Release Date: March 15, 2010
Contact: Andrew Desouza, (202) 962-7390, adesouza@sifma.org

Statement by SIFMA President and CEO Tim Ryan on Senator Dodd’s Regulatory Reform Legislation

Washington, DC, March 15, 2010—The Securities Industry and Financial Markets Association (SIFMA) today released the following statement from President and CEO Tim Ryan on the release of Senator Dodd’s new regulatory reform legislation.

"We hope today’s announcement by Senator Dodd brings us another step closer to enacting the reforms that are vital to strengthening our financial system, this year. We remain committed to supporting responsible reform that balances stronger regulatory transparency and oversight with the industry’s ability to finance America's economic recovery and job creation.

“The industry has been, and continues to, support reforms that protect against systemic risk, end the notion of "too big to fail," and never again put American taxpayers on the hook. While we may disagree on certain specific policy details, we should not let it distract us from the overall goal of reforming the system. We look forward to working with the Senate as this legislative process continues.”

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The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit www.sifma.org.

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