SIFMA provided comments to the Department of the Treasury (Treasury) in response to its request for information on marketplace lending.  SIFMA’s comments address (1) structures used for marketplace lending and the regulation of marketplace lending, (2) risk retention in secondary market activity, with regard to securitization as well as bilateral transactions (e.g. whole loan sales), where SIFMA does not believe risk retention requirements are appropriate, (3) investor considerations for investing in marketplace loans and securities, and (4) forms of secondary liquidity as well as hurdles to increasing liquidity in this market.  SIFMA is grateful for the advice of Kaye Scholer, Mayer Brown, Orrick, and Sidley Austin, who served as counsel to SIFMA on this matter.  Contact Chris Killian for more information.