Washington, D.C., September 25, 2019 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO regarding the newly announced U.S.- Japan trade agreement.

“Ensuring financial services providers can manage data on a cross border basis is crucial to the strong security and privacy of data that supports future growth, investment and innovation. We therefore commend the Trump administration for enshrining strong robust digital economy provisions in today’s agreement with Japan including those that ensure the free flow of data and prohibit measures regarding location of data storage facilities. We look forward to further work towards a broader, comprehensive U.S.-Japan trade deal with an ambitious financial services chapter.”

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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.