BloombergTV: SIFMA CEO Bentsen on Financial Regulation in the New Congress

SIFMA president and CEO Kenneth E. Bentsen, Jr. discusses the potential for financial regulatory changes with Democrats taking control of the House of Representatives in the midterm elections. He speaks with David Westin and Alix Steel on “Bloomberg Daybreak: Americas.”

“When you cut through it, you want to look at what policy is going to get done,” says Bentsen. “To drive policy through legislation, you’re going to need bipartisan consensus in the House and Senate.” With both parties looking to put points on the board before the 2020 elections, Bentsen is optimistic they will look for consensus where they can – housing finance reform and multi-employer retirement plans are possibilities. Bentsen expects regulatory activity to continue at the pace it is now, with regulators taking a very deliberate, methodical approach to review post-crisis reforms to see what is and what is not working. He warns we should look risks arising from fiscal policy and other macro issues, including issues around the debt limit when its suspension expires in March 2019. (Source: BloombergTV)