Washington, DC, October 1, 2018 – SIFMA released a statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the new trilateral trade deal announced today, the “United States-Mexico-Canada Agreement:”

“SIFMA welcomes the news that the United States, Canada and Mexico have reached agreement on a trilateral trade and investment deal to succeed NAFTA. SIFMA is reviewing the details closely with our members. For the first time ever in a trade and investment agreement, provisions prohibiting data localization and improving the free flow of data across borders, which are so important to many of our members’ businesses, is protected. We will continue to assess the text in coming days.”

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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 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). For more information, visit http://www.sifma.org.