Contact: Andrew DeSouza, 202.962.7390, adesouza@sifma.org

SIFMA Supports President Obama’s Endorsement of Transatlantic Trade and Investment Partnership 

Washington, DC, February 12, 2013—SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, in response to President Obama’s endorsement in his State of the Union Address of beginning negotiations with the European Union on a comprehensive Transatlantic Trade and Investment Partnership.

“We applaud President Obama for supporting discussions between the United States and the European Union on a comprehensive transatlantic trade and investment partnership. We strongly support such a partnership, which we believe should include financial services.  The US and EU financial markets are the most developed and intertwined in the world. A comprehensive trade and investment agreement presents a unique opportunity to enhance the efficiency of the transatlantic financial markets, facilitate trade, and deliver lower costs products to investors.

“We encourage negotiators to focus on areas such as market access, extra-territoriality, and on enhancing regulatory efficiency that allows for increased growth and more efficient markets. We look forward to working with negotiators to secure an agreement that is reflective of the global needs of financial services firms and their customers.”

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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.