Washington, D.C., July 17, 2018 – SIFMA issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO on the confirmation of Randal K. Quarles for a full 14-year term on the Federal Reserve Board:

“SIFMA congratulates Randal Quarles on his confirmation to a full term as a Federal Reserve governor. Randy’s legal, business and government experience make him eminently qualified to be the Fed’s first Vice Chairman for Supervision.”

-30-

SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $18.5 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. 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.