SIFMA Statement on SEC Simultaneous Commission Consideration of Settlement Offers and Related Waiver Requests Announcement

Washington, D.C., September 29, 2025 – SIFMA today released the following statement from Saima S. Ahmed, SIFMA Executive Vice President and General Counsel, on the Securities and Exchange Commission’s announcement related to the Simultaneous Commission Consideration of Settlement Offers and Related Waiver Requests:

“We appreciate the SEC’s decision to restore its prior practice of permitting a settling entity in an SEC enforcement action to request that the Commission consider simultaneously both an offer of settlement and a request for waivers from resulting collateral consequences. The terms of SEC settlements can trigger significant collateral consequences for firms, and this is an important initial step in making the waiver process more equitable and predictable. Improving the transparency, efficiency, and predictability of the SEC’s waiver process is a key issue for SIFMA’s members, and we look forward to engaging with the SEC on this important topic.”

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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. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).