SIFMA Statement on the Senior Security Act of 2019

Washington, DC, April 30, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on H.R. 1876, the Senior Security Act of 2019, which establishes a Senior Investor Taskforce within the Securities and Exchange Commission (SEC):

“SIFMA applauds House passage of the Senior Security Act of 2019 which creates a new SEC taskforce charged with identifying problems senior investors encounter, including financial exploitation and cognitive decline and identifying regulatory changes that could help protect senior investors. Our industry is on the frontline in protecting senior investors and strongly supports any efforts that focus on the most immediate and most damaging dangers faced by senior investors. H.R. 1876 will strengthen efforts to protect these investors from bad actors closest to them. SIFMA appreciates the bipartisan attention paid to this important issue and thanks Representatives Josh Gottheimer and Trey Hollingsworth for introducing this commonsense legislation.”

SIFMA’s letter of support on the legislation expands on these views, which can be found here: https://www.sifma.org/resources/submissions/h-r-1876-senior-security-act-of-2019/

SIFMA’s Senior Investor Protection Toolkit provides a compilation of resources to help educate and protect senior investors and can be found here:  https://www.sifma.org/resources/general/senior-investor-protection-toolkit/

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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 nearly 1 million employees, we advocate for 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). For more information, visit http://www.sifma.org.