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
“[Better Markets] first shot to fame during the 2008 global financial crisis when it became a thorn in the side of Wall Street and Washington regulators because it complained loudly—and correctly—about the follies of excessive financial deregulation. Since then, it has continued to scrutinize the more recondite details of US regulation, complaining, again rightly, that the rules have recently been watered down.”
“Dennis Kelleher and his team at Better Markets have consistently pushed for financial reform that will help protect the U.S. economy from another financial crash. They are strong partners in the fight to level the playing field for middle-class families and have been persistent fighters for the American people, their jobs, savings and retirements.”
“Better Markets has served as a valuable and important voice pushing for fairness in our financial system.”
“Dennis Kelleher over at Better Markets, a huge presence in Washington, DC. A nonprofit, of course, established to make finance and government serve society a little bit better.”
“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.”
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 450 Comment Letters at the financial regulatory agencies and self-regulatory organizations.
Rule
Citations
Better Markets was cited over 170 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.
#SCOTUS' new term starts Monday. Our team has a preview of the most important cases, including those that will determine how government agencies can protect Main Street Americans from predatory financial practices:
https://bettermarkets.org/analysis/better-markets-2024-supreme-court-report/
.@Kalshi already expanded its wagers to include Trump vs. Harris. Our Steve Hall tells @CNN's @piperhudsburn “The use of AI & social media to influence election outcomes has become all too real. Election gambling will intensify that danger."
Federal appeals court allows prediction market Kalshi to offer US election betting | CNN Business
A federal appeals court in Washington, DC, on Wednesday allowed a prediction market to offer election betting, denyi...
www.cnn.com
After 50 years, it's time for the @SECGov to adopt a #BestExecution rule! Retail investors deserve the best prices for their trades. An obligation for brokers to act in investors' interests will enhance market fairness and confidence.
After 50 Years, it is Time for the SEC to Adopt a Best Execution Rule to Ensure Retail Investors...
WASHINGTON, D.C.—Director of Securities Policy Benjamin Schiffrin issued the following statement on the filing of Bett...
bettermarkets.org
The last thing we need weeks before a close and contentious election is to introduce gambling into our democracy. Yet that's exactly what @Kalshi and a misguided court ruling have done. Our Steve Hall tells @_DanMangan "The record clearly includes concrete examples of election…
.@WayneParryAC of the @AP covers the dangerous court ruling to allow betting on U.S. elections with our Steve Hall explaining "There is no way to undo the potential damage to the public interest of allowing bets in the final weeks of an election year."
Court says betting on U.S. congressional elections can resume, for now
Americans are once again free to bet on the outcome of U.S. congressional elections, at least temporarily.
apnews.com
The court’s order today in the @Kalshi case will allow betting on an incredibly close and contentious race just weeks before the election. That makes this a sad and ominous day for election integrity in the United States.
The record clearly includes concrete examples of election…
BREAKING: Court's reckless ruling will allow betting on the final weeks of an incredible close and contentious election. @Kalshi is gambling with our democracy and all concerned citizens should consider what's at stake. @CNBC @_DanMangan
Betting on congressional elections is lawful, federal appeals court rules
www.cnbc.com
The proposed @CapitalOne #Discover merger poses serious risks for consumers, reduces competition and will likely lead to higher fees & interest rates. With both banks’ troubling histories, regulators must reject this merger to protect Main Street!
https://open.substack.com/pub/bettermarkets/p/the-capital-one-discover-merger-should?r=1mexyz&utm_campaign=post&utm_medium=web
Our Director of Securities Policy Benjamin Schiffrin attended @GeorgetownLaw's conference on #ArtificialIntelligence last week. Ben shares what he learned at the conference and what our team is thinking about when it comes to the risks and rewards of #AI in finance.…
The financial industry will always have the resources to tell its side of the story and influence Washington to further its narrow, profit maximizing interests. Better Markets is working to represent Main Street and the public interest. Read how in our newsletter:…
.@samjsutton @politico #MorningMoney raise important concerns about how our democracy can be manipulated if @Kalshi is allowed to offer bets on our elections.
https://www.politico.com/newsletters/morning-money
.@FTJFranklin @CostasMourselas of the @FT cover the rise of secretive firms like #Citadel & #JaneStreet. Our @DennisKelleher explains "This is an incredibly opaque, sprawling sector of the financial industry."
New titans of Wall Street: How trading firms stole a march on big banks
Handful of secretive businesses including Jane Street and Citadel Securities have seized market share from the old guard
www.ft.com
.@samjsutton @politico provides important insights on the economy ahead of the election in today's Morning Money. Appreciate Sam mentioning our #SCOTUS report which preview the upcoming term beginning Oct. 7.
https://www.politico.com/newsletters/morning-money
In our new report, Legal Director Stephen Hall highlights the #SupremeCourt's troubling decisions that undermine financial protections for Americans. With agencies weakened, consumers face greater risks from fraud and predatory practices. Read more here: https://bit.ly/3ZD0QIs
Important article from @mstratford @politico on the use of #crypto to fund Russia's war in Ukraine and cybercriminals globally.
POLITICO Pro: US cracks down on Russian crypto exchanges that funded cybercriminals
President Joe Biden listed the move as among various steps his administration is taking to help Ukraine win its war with Russia.
subscriber.politicopro.com
In recent years the #SCOTUS has not only gutted individual liberties but also escalated its attacks on the agencies that protect the public from a wide range of threats, including predatory financial practices. Our new report examines how we got here and what to expect from the…
Will Americans be able to bet the on the 2024 election this fall?
The @Kalshi election betting case currently pending in Federal Court has enormous implications for our democracy and markets. In our latest #substack our team analyzes the legal arguments and what's at stake:…
Justice was served today when Judge Kaplan sentenced #FTX co-conspirator, #CarolineEllison, to a 24-month prison sentence, an order to forfeit about $11 billion, and three years of supervised release.
https://bettermarkets.org/newsroom/sam-bankman-frieds-co-conspirator-key-ftx-fraudster-caroline-ellisons-24-month-prison-sentence-serves-justice/
NOW: @FinancialCmte is holding a hearing with @SECGov Commissioners. While the financial industry is constantly attacking the agency to protect its interests, we detail how the #SEC is acting in the public interest:
https://bettermarkets.org/newsroom/fact-sheet-the-sec-is-working-to-reduce-costs-increase-transparency-and-prevent-identity-theft/
Today #CarolineEllison will be sentenced for her role in one of the largest criminal frauds in financial history- #FTX. We argue Eillison should serve one year in prison & face other penalties.
https://bettermarkets.org/newsroom/caroline-ellisons-cooperation-in-prosecuting-the-ftx-fraud-is-important-but-not-a-get-out-of-jail-free-card/
.@washingtonian takes a look at the debate over election betting with our Cantrell Dumas explaining “You already have Americans doubting the actual integrity of the election...
https://www.washingtonian.com/2024/09/23/can-you-gamble-on-democracy-election-betting-explained/
.@jessica_corso of @Law360 writes on the @CFTC's actions on #CarbonMarkets. Our Cantrell Dumas explains these steps are "significant milestones" for the agency and will help ensure that the credit markets "play a meaningful role in combating climate change."…
The @SECGov compounded the mistake that it made earlier this year in approving spot #bitcoin exchange-traded products (ETPs) by today approving the listing and trading of #options on a spot bitcoin ETP.
https://bettermarkets.org/newsroom/the-sec-compounds-its-mistake-in-approving-spot-bitcoin-etps-by-approving-a-rule-change-to-trade-options-on-a-spot-bitcoin-etp/
The @CFTC approval of its guidance for the listing and trading of of voluntary carbon credit (VCC) derivative contracts is a significant milestone. By establishing a framework that enhances trust and oversight in these markets, the #CFTC is helping ensure that voluntary carbon…
"What we have, unfortunately, is too many people who are bending to the power money and might of the #crypto industry, and I think the American people are going to pay the price in the future for that, if people don't actually make that industry follow the law like everybody…
NOW: The Court of Appeals for the DC Circuit is currently holding a hearing that will determine if a "stay" will remain in place preventing @Kalshi from moving forward with election betting.
https://www.youtube.com/watch?v=jDoxLV8jqeM
Important story from @aosipovich @WSJ on @SECGov's change to the tick size rule that @BetterMarkets notes would lower costs for investors.
https://www.wsj.com/finance/regulation/get-ready-to-see-stock-prices-in-half-pennies-1f18321b
Today at an @Axios event @DennisKelleher spoke to @ShenLucinda about #crypto industry backed bills and why they are a threat to our economy and #MainStreet. "Think about this, nowhere else would we let an industry pick its regulator."
https://bit.ly/43KeWYH
NOW: @DennisKelleher talks with @Axios' @ShenLucinda on the future of #crypto legislation.
https://x.com/bettermarkets/status/1836736484872712655?s=46&t=tI3JRpaJhYCz67ungUWL1Q
Watch Live: Starting now- @DennisKelleher and @Axios' @ShenLucinda discuss the state of play for crypto on Capitol Hill. Register to watch:
Axios' The State of Play for Crypto on Capitol Hill
Join Axios for an event in Washington, D.C. featuring policymakers and crypto leaders for conversations to break dow...
trib.al
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