The INVEST Act
Summary
SIFMA provided comments to the U.S. House of Representatives expressing its appreciation for the work to modernize our securities laws with the consideration of the INVEST Act on the House floor.
Excerpt
The Securities Industry and Financial Markets Association (SIFMA) 1 and its member firms would like to express our appreciation for your work to modernize our securities laws with the consideration of the INVEST Act on the House floor. We applaud your continued efforts to advance legislation that will enhance capital access, strengthen public and private markets, and support entrepreneurs while protecting retail investors. This legislative package being considered includes important provisions that seek to increase market access for retail investors, reduce burdens on market participants, and promote continued growth and innovation in our capital markets. Accordingly, we urge Congress to pass the INVEST Act.
Recognizing the critical role the U.S. capital markets play in our economy, SIFMA was pleased to support the passage of the original JOBS Act in 2012. Now, over a decade later, that legislation has made great strides in reducing regulatory burdens that too often stand in the way of growth and innovation. Still, with the continuing evolution of our markets and market participants, we believe that it is now appropriate for Congress to consider additional enhancements to the securities laws that will reduce regulatory frictions and facilitate improved access to the U.S. capital markets.
We commend the House Financial Services Committee (HFSC) for holding numerous hearings on our capital markets and capital formation to allow for appropriate consideration and feedback from the public and interested stakeholders, and for crafting legislation that appropriately balances capital formation with investor protection. We especially applaud the bipartisan legislative efforts of the Committee, the results of which are reflected in the package under consideration. SIFMA is pleased to provide the following comments on the provisions of the INVEST Act.
- SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. For more information, visit http://www.sifma.org.