Defending Main Street
Protecting Consumers, Investors, Retirees and Markets from the Predators
Financial Reform and Stability
Preventing Financial Crashes and Economic Collapse While Protecting Your Pocketbook, Our Shared Prosperity and America’s Limited Resources
Accountability
Returning the Law to Wall Street While Watching the Watchdogs, Defending Democracy, Transparency and Open Government
Advocacy and Outreach
Supporting the productive economy, creating wealth and broad-based prosperity while reducing systemic threats, inequality and economic insecurity
“Dennis Kelleher [is] one of the most powerful lobbyists on financial regulatory reform.”
“It's more important than ever that consumers and taxpayers have strong advocates like Dennis and Better Markets to stand up for ordinary Americans.”
“Kelleher, a former attorney at Skadden, Arps, Slate, Meagher & Flom, has become well-known for his critique of both Wall Street banks and regulators who he has often accused of failing to hold the banks accountable for wrongdoing.”
“Dennis is one of the most plugged in and important names here in Washington as the founder and leader of the investor advocacy group Better Markets. His views can not only drive fear into the heart of Wall Street, but they are also driving the conversation on Capitol Hill, especially on the most pressing topics concerning market abuse, risk and the integrity of the financial system.”
“Better Markets encourages a free flow of reform-minded ideals by bringing transparency and some small counterweight to the lobbying goliath of Wall Street.”
“Dennis Kelleher is one of the most effective group CEOs in Washington, D.C., and Better Markets’ record of achievement proves that.”
“On the front-lines of this effort is Better Markets, a relatively new advocacy group pushing to ensure new regulations are as strong as possible.”
Shaping the news, amplifying the public’s voice and analyzing new policies so Main Street doesn’t get left behind.
Comment
Letters
Better Markets filed more than 300 Comment Letters at the financial regulatory agencies and self-regulatory organizations.
Rule
Citations
Better Markets was cited over 130 times in final rules, showcasing the impact our subject matter experts make on the rulemaking process.
Court
Filings
Better Markets argues for strong regulation, effective remedies for investors, and a rulemaking process that complies with the law.
Print
Articles
Better Markets subject matter experts are continually sought after to amplify the public’s voice and to analyze new policies so Main Street doesn’t get left behind.
Scott Farnin, Better Markets Legal Counsel, will speak on a panel at 2:30pm EST about #CryptoRegulation at the @NewYorkFed Conference on Artificial Intelligence and Digital Assets. https://www.newyorkfed.org/research/conference/2023/Fintech
“What’s good for #MainStreet (well-capitalized banks) isn’t very good for #WallStreet, especially for Wall Street CEOs and executives.” Taking on #WallSteet's baseless claims on higher capital requirements, read @DennisKelleher’s op-ed in @AmerBanker.
Well-capitalized banks are good for everyone, except Wall Street CEOs
The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.
www.americanbanker.com
ICYMI: Our Conference covered the #Lehman collapse, #TBTF, and how to build an economy that works for all Americans. Speakers included @chopracfpb, @GaryGensler, @SenWarren. Watch more clips from the conference here: https://www.youtube.com/watch?v=h4n0AnstS14&list=PLTMIGx3GYtDCz9DjdWqrJhm2vE-Y6nzLR
Just a reminder, that 52M number is based on deceptive polling. It's certainly time for people to wake up to the #crypto industry's misleading rhetoric and promises. Read more in our crypto polling fact sheet: https://bettermarkets.org/wp-content/uploads/2023/07/BetterMarkets_Deceptive_Polling_Paid-For_ByCrypto_July2023-1.pdf
.@coinbase is holding another #StandWithCrypto Day to try to get Congress to approve its favored legislation. You should know that the #crypto industry is spending millions to to get its proposals to the front of the line and influence policymakers. https://www.youtube.com/watch?v=HkvOcbBdCSs&t=9s
#ClimateChange is an existential threat. However, concealed beneath the #ClimateCrisis, is a forthcoming banking crisis that has remained ignored. Read more here:
New Report: As Climate Disasters Pummel the Country, Regulators Must Address the Unseen Banking...
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO of Better Markets, issued the following statement...
bettermarkets.org
These are just a few of the highlights from our conference on #Lehman and #TBTF. Watch the full conference and learn how we can fight for a financial system that works for Main Street, not just Wall Street: https://bettermarkets.org/analysis/15th-anniversary-lehman-collapse-conference/
Effective risk management is crucial for swap dealers as it ensures the stability & integrity of financial markets. Our new comment letter urges the @CFTC to take risk & financial stability into account in its rulemaking. Learn more in our comment letter:
Better Markets Advocates for Proactive Risk Management in Financial Markets | Better Markets
Better Markets filed a comment letter with the Commodities Futures Trading Commission (CFTC) regarding potential regulat...
bettermarkets.org
At our recent conference on #Lehman and #TBTF,
@vtg2 moderated a panel with @baselinescene, Patricia McCoy (@BostonCollege), Art Wilmarth (@gwlaw), and @STOmarova on #DoddFrank and the banking crisis earlier this year. Watch here:
The @SECGov has proposed a new rule to eliminate certain conflicts of interest associated with the use of predictive data analytics (PDA) by broker-dealers or investment advisers. You can learn how to make your voice heard with the SEC here: https://bettermarkets.org/get-involved/
Thanks to @Public_Citizen, @StopBigMoney, @RealBankReform, @TakeOnWallSt and many other organizations and individuals who joined us in July to urge the @CFTC to reject Kalshi's dangerous attempt to allow gambling on U.S. elections. https://bettermarkets.org/wp-content/uploads/2023/07/Final-Kalshi-Sign-On-Letter.pdf
The @CFTC has rejected Kalshi's backdoor attempt to unleash gambling on U.S. elections. https://bettermarkets.org/newsroom/cftc-properly-and-wisely-rejects-kalshs-illegal-sneaky-backdoor-proposal-to-allow-gambling-on-elections-incentivizing-election-interference/
Last week at our conference on #Lehman and #TBTF
@deborah_solomon, @WilliamCohan, @Jeremy_Kress,
@FrankPartnoy, @jentaub examined the work that remains after the 2008 financial crisis to protect our financial system and #MainStreet. Watch here:
.@declanharty @politico covers the @SECGov's important steps to protect investors from "greenwashing" through updates to the "Names Rule". https://subscriber.politicopro.com/article/2023/09/sec-set-to-clamp-down-on-misleading-fund-names-00116936
At our conference last week, @SECGov @GaryGensler had a great conversation with @brookeamasters of the @FT on "A Market Regulator’s View of Too-Big-To-Fail". Watch the Fireside Chat here:
.@SECGov's newly adopted changes to the "Names Rule" will help prevent funds from misleading investors with baseless if not false claims about #ESG, climate & sustainability. Learn more here:
At Upcoming Meeting, SEC Should Adopt Strong Enhancements to ESG Mutual Funds and ETFs “Names Rule”...
WASHINGTON, D.C.—On Wednesday, September 20th, the U.S. Securities and Exchange Commission (SEC) will consider whether ...
bettermarkets.org
Right now: @SECGov is considering the names rule- a core investor protection that seeks to ensure that investors are not misled by the labels attached to funds.
https://www.sec.gov/news/upcoming-events/open-meeeting-092023
The fallout from #ClimateChange is catastrophic to the economy and people’s livelihoods. Our report explains why policymakers and regulators must do more to account for the financial risks of #ClimateChange. #ClimateWeekNYC
https://bettermarkets.org/wp-content/uploads/2021/11/BetterMarkets_Climate_Change_and_the_Banking_System_Nov-2021.pdf
Appreciate @NateBeck9 @Law360 covering our policy brief on the #CRA, which asks for major reforms so the law can actually do what it was supposed to- extend credit to low- and moderate-income families.
Fed's Proposed CRA Updates Fall Short, Nonprofit Says - Law360 Real Estate Authority
Changes to the Community Reinvestment Act pitched by the Federal Reserve and other government entities aren't likely ...
us-west-2.protection.sophos.com
“That is government by and for the powerful, not the people.” Great piece by @SenJeffMerkley, taking aim at @Kalshi 's backdoor proposal to allow gambling on elections and urging the CFTC to reject their proposal in order to protect American Democracy.
https://www.msnbc.com/opinion/msnbc-opinion/election-gambling-proposal-cftc-jeff-merkley-rcna105665
#WallStreet is in a tizzy because the @SECGov wants funds to actually prove that their holdings match their names. The horror! https://www.ft.com/content/0fe99f50-5a76-46e6-be59-e6d9ee0e3ce2
Investor interest in ESG investing is strong and steadily climbing as investors increasingly want factors like #ClimateChange taken into account. Read more in our fact sheet, “ESG Investing is Here to Stay” #ClimateWeekNYC
https://bettermarkets.org/newsroom/investor-demand-means-esg-investing-is-here-to-stay/
Appreciate @rkuttnerwrites @TheProspect highlighting our recent conference on the anniversary of #Lehman and #TBTF. @TheProspect does amazing work highlighting and continuing the conversation on the issues we discussed at the event.
https://prospect.org/economy/2023-09-19-failure-of-dodd-frank/
#ClimateChange is an issue of ever-greater importance and urgency, and financial markets will get no free pass from its consequences. That’s why we’re encouraged to see the @CFTC discussing the high-integrity voluntary carbon markets at #ClimateWeekNYC
https://www.carbonsmart.global/agenda
Thanks to @samsutton @vtg2 for covering our new policy brief on the #CommunityRevinestmentAct in Morning Money. This is an undercovered issue that directly impacts racial equality in our country. @politico https://www.politico.com/newsletters/morning-money
Low & moderate-income families and communities have been illegally denied credit, investment, and banking services for decades, which has contributed to intergenerational wealth gaps & poverty. The #CRA was supposed to change that. But the CRA has failed.
https://bettermarkets.org/newsroom/the-community-reinvestment-act-cra-rule-proposed-by-the-federal-reserve-fdic-and-occ-is-deeply-flawed-and-will-not-work/
There’s a major untold story behind the unprecedented #climate disasters pummeling the country and capturing the headlines: today’s climate crisis is tomorrow’s banking crisis. #ClimateChange #ClimateWeekNYC https://bettermarkets.org/newsroom/new-report-as-climate-disasters-pummel-the-country-regulators-must-address-the-unseen-banking-crisis-concealed-behind-the-climate-crisis/
.@SenWarren opened up our conference with a call for policymakers and regulators to learn the lessons of #Lehman and #SVB, and to do more to protect our economy and Main Street from the next financial crash. WATCH:
#Wallstreet is whining about fines for its transgressions & crimes. But @DennisKelleher tells @davidamichaels @WSJ that “big fines alone on big banks are paid by shareholders & will never be big enough to stop bankers from breaking the law.”
https://www.wsj.com/finance/regulation/wall-street-is-furious-over-rising-fines-from-sec-e35e25b7?st=gycruklisi3gqgy&reflink=article_copyURL_share
In @MarketWatch @SteveGelsi’s piece on the shockingly light sentence for #CarrieTolstedt @DennisKelleher explains “Sentencing such a corporate executive to 6 months of home confinement presumably in a mansion cannot seriously be considered a punishment.”
Ex-bank exec gets six months of home confinement and probation for Wells Fargo fake-account scandal
Former Wells Fargo retail-unit executive Carrie Tolstedt sentenced for her part in the bank's fake-account scandal.
www.marketwatch.com
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