BNN Bloomberg: SIFMA CEO Bentsen Discusses Regulatory Trends for 2019

SIFMA president and CEO Ken Bentsen shares his insights on the regulatory trends he expects in the year ahead. In a wide-ranging interview, he cites the Securities and Exchange Commission’s Regulation Best Interest, which he expects to be finalized in 2019, as a key development. He speaks with Catherine Murray on “BNN Bloomberg.”

“The SEC Regulation Best Interest standard will be finalized sometime next year,” says Bentsen. “This will raise the standard under the law that brokers duty of care they owe their clients and will catch up to where the industry is and where regulation is largely enforced.” Bentsen notes in the broader institutional side that the U.S. is looking at the various rules put in place post-crisis and there is ongoing recalibration. “This isn’t deregulation,” he says, but rather making sure the dial is set correctly with respect to the various capital standards, liquidity requirements, the Volcker Rule and more. While we are still implementing these rules, we must ask questions like, “Do all these rules work the way we want to? Are they having a negative impact on capital formation?” (Source: BNN Bloomberg)