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 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.”
“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.”
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.
Ben Schiffrin, our director of securities policy, talked to @FT about how the @SECGov withdrawing pending rule proposals endangers investors, particularly the proposed rule to regulate AI in the security space.
Trump SEC chair scraps proposed market rules as he charts new path
Paul Atkins bludgeoned more than a dozen outstanding proposals from his predecessor’s regulatory programme
www.ft.com
In honor of #Juneteenth tomorrow, we have released a new fact sheet describing how discrimination and limited access to financial services continue to imperil the American Dream for many individuals and families.
Juneteenth Fact Sheet Details Trump Administration Impact on Economic Inclusion | Better Markets
WASHINGTON, D.C. – Thursday, June 19th marks Juneteenth, a federal holiday recognized in 2021 to commemorate the e...
bettermarkets.org
The Senate just passed the GENIUS Act, which puts consumers, investors and the economy at risk. Stablecoins represent an unstable future with little regard for economic guardrails that Americans depend on. Read our statement:
Senate Passing Industry-Friendly GENIUS Act Puts Economy at Risk | Better Markets
WASHINGTON, D.C.— Amanda Fischer, Policy Director and Chief Operating Officer (COO) for Better Markets, issued the f...
bettermarkets.org
The OCC’s changes to its merger policy prioritize the interests of the banking industry and bank profits over what is best for consumers and financial stability. Read more in our comment letter:
The OCC’s Merger Policy Should Prioritize Consumers Over Bank Profits | Better Markets
...
bettermarkets.org
Community banks are vital to Main Street Americans. Our new fact sheet explores the significant funding challenges putting them at risk, and recommendations to preserve the stability and integrity of community bank funding.
To Foster Local Economic Growth, Regulators and Policymakers Must Address Increasing Funding Risks...
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better...
bettermarkets.org
BREAKING: The CFPB's shameful effort to overturn an anti-discrimination settlement in CFPB v. Townstone was soundly rejected. Read our statement:
Court Rejects CFPB Attempt to Undo Anti-Discrimination Court Case | Better Markets
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on today’s dec...
bettermarkets.org
New Substack: 42 years ago this week, the movie "Trading Places" portrayed the real threat of commodities market manipulation, and showed why preventive safeguards like position limits are so essential. https://bettermarkets.substack.com/p/frozen-concentrated-truth-what-trading
The @SECGov should be protecting Americans from increasing crypto frauds. Instead, the SEC and its Crypto Task Force keep utilizing staff guidance, which lacks legitimacy, instead of notice-and-comment rulemaking. Read more in our comment letter:
For Legitimacy, Crypto Task Force’s Policy Pronouncements Must Use Notice-and-Comment Rulemaking |...
As agency actions increasingly insulate SEC leadership from accountability, crypto scam risk grows for everyday American...
bettermarkets.org
SEC Chair Paul Atkins is against fining corporations for wrongdoing. He has stated that "Corporations do not act, individuals do."
If the SEC imposes fewer corporate penalties under his leadership, then individual liability should increase.
New report:
Report: The SEC Must Hold Individuals Accountable for Corporate Misconduct | Better Markets
WASHINGTON, D.C.—Benjamin Schiffrin, Better Markets’ Director of Securities Policy, issued the following statement in ...
bettermarkets.org
Brian Quintenz is Trump's pick to lead the CFTC. His record makes clear that the CFTC, when led by Quintenz, will not prioritize the public interest, but instead deliver on the industry’s deregulation wish list. Read more in our new fact sheet:
Trump’s CFTC Chair Nominee Brian Quintenz’s Deregulatory Record Means Increased Dangers for...
WASHINGTON, D.C. — Dennis M. Kelleher, Co-founder, President and CEO of Better Markets, issued the following stateme...
bettermarkets.org
WATCH: Better Markets' Amanda Fischer testifies before the House Financial Services Committee on the CLARITY Act, live now.
Our new report explains how quantitative cost-benefit analysis ⚖️ is being weaponized to undermine financial regulatory agencies that were established to protect Americans from a wide variety of threats to their economic well-being.
Cost-Benefit Analysis Is Re-Emerging as a Weapon in Trump Administration’s Campaign to Stifle...
WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist at Better Markets, issued the following state...
bettermarkets.org
There is no reason to endanger the retirement savings of millions of ordinary American investors by exposing their 401(k)s to expensive and risky private market assets. Read more in our new fact sheet:
Fact Sheet: Private Market Assets Do Not Belong in 401(k)s | Better Markets
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Be...
bettermarkets.org
This week, the Senate will vote on Federal Reserve Governor Michelle Bowman's nomination to become Vice Chair for Supervision. Unfortunately, Bowman's views show that she is the wrong choice for this position. Our full statement: https://bettermarkets.org/newsroom/federal-reserve-governor-bowmans-pro-wall-street-anti-main-street-views-make-her-the-wrong-choice-for-fed-vice-chair-for-supervision/
Phillip Basil, our director of economic growth and financial stability, talked with @mstratford @politico about how weakening the minimum level of capital requirements on big banks will increase financial stability risks.
Trump administration prepares to ease big bank rules
The proposal would represent the latest policy win for the banking industry, which has been closely scrutinized sinc...
www.politico.com
The @SECGov formally dropped its lawsuit against @binance and its founder CZ.
"Yesterday’s dismissal by the SEC is culmination of a string of actions that have transformed the SEC from crypto’s watchdog to crypto’s lapdog." -@amandalfischer
SEC Completes Transformation Into Washington’s Crypto Cheerleader, Drops Lawsuit Against Binance &...
WASHINGTON, D.C.—Amanda Fischer, Policy Director and COO of Better Markets, issued the following statement in response...
bettermarkets.org
Tim Leissner, the Goldman Sachs partner who orchestrated Goldman's role in the 1MDB scandal, was sentenced to two years in prison. Our full statement:
Goldman Sachs’ Partner Tim Leissner Is Sentenced to Prison for 1MDB Global Crime Spree, But Judge...
WASHINGTON, D.C.—Dennis Kelleher, Cofounder, President, and CEO of Better Markets, issued the following statement on t...
bettermarkets.org
In another flagrant example of putting #crypto profits ahead of the economic stability and security of Americans, the Trump administration rescinded guidance warning against crypto in retirement accounts. @GregIacurci for @CNBC:
Trump administration axes Biden-era barrier for crypto in 401(k) plans
The Labor Department rescinded Biden-era guidance cautioning employers to use "extreme care" before adding crypto and digital assets to 401(k) plans.
www.cnbc.com
Important story by @burkehenryt with @revolvingdoorDC. The Blockchain Association, Washington’s largest cryptocurrency advocacy group, announced has hired a new CEO: CFTC Commissioner Summer Mersinger.
The Blockchain Association Just Bought the CFTC
The revolving door isn’t just corrupting the CFTC—it may end the pretense of a Commission altogether.
prospect.org
Today in front of the @HouseAppropsGOP @AppropsDems, Chair Atkins said one of his top priorities is the crypto markets, highlighting the perceived need for special rules for the crypto industry.
The SEC Under Chair Atkins Will Be the Crypto Industry’s Chief Cheerleader | Better Markets
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement on SEC Chair Paul A...
bettermarkets.org
Our public capital markets are the envy of the world, yet the increasing ability to raise money privately is bleeding the public markets dry. In a report, we explain the risks of making it even easier to raise money through private securities offerings.
Report: Private Securities Offerings Should Be the Exception, Not the Rule | Better Markets
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Be...
bettermarkets.org
At tomorrow's @FDICgov Board Meeting, the 2024 merger policy will be withdrawn and replaced with a weaker, outdated, "rubber stamp" policy. This unnecessary policy change will harm consumers and cause crashes. Read our full statement:
The FDIC’s New Policy to Rubber Stamp Mergers and Supersize Banks Will Hurt Consumers and Cause...
WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and CEO of Better Markets, issued the following statement in a...
bettermarkets.org
Our @amandalfischer spoke to @TheEconomist about the crypto industry's influence in DC: "It’s the most brute force display of money and power in the legislature I have ever seen."
The crypto industry is suddenly at the heart of American politics
Thank the Trump family’s investments, friendly regulators and lavish election spending
www.economist.com
Behind the scenes, Wall Street financial firms are speculating on commodity contracts, helping set the price consumers pay for commodities. In a new Substack, we explain what consumer protection position limits are and why they matter.
https://bettermarkets.substack.com/p/how-wall-street-excessive-speculation
This week, the @CFTC voted unanimously to drop its appeal in KalshiEx v CFTC, unleashing nationwide online gambling on U.S. elections. This decision undermines democracy and creates financial incentives for election interference. Read our full statement.
CFTC Commissioner Goldsmith Romero Casts Deciding Vote to Unleash Election Gambling, Undermining...
WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and CEO of Better Markets, issued the following statement in r...
bettermarkets.org
On this day 7 years ago, the Supreme Court legalized sports betting. The 24/7 availability has contributed to an epidemic of gambling addiction in this country. Securities exchanges now want to do the same thing with stock trading. Our new report explains why this poses huge…
Tomorrow, Congress holds a hearing to examine the fragilities in the Treasury market. Our new fact sheets discuss those fragilities, the importance of bolstering the Treasury market, and ensuring it runs smoothly in normal times and in times of stress.
Fact Sheets: Policymakers Must Bolster The Treasury Market and Weakening Bank Capital Will Not Help...
WASHINGTON, D.C.—Ben Schiffrin and Phillip Basil, Directors of Securities Policy and Economic Growth & Financial Stabi...
bettermarkets.org
In a recent speech, Acting Comptroller Hood @USOCC stated that 50 million Americans own crypto. In a letter, we explained that this statistic is false and comes from a misleading poll. According to the @federalreserve, only 7% of American adults—about 24 million people—used…
The @CFTC has allowed Coinbase to proceed with launching 24/7 futures trading. The problem? An active Request for Comment on this exact issue is still open. The CFTC's premature action completely undermines the public comment period. Read our statement:
CFTC Undermines Public Comment Process, Lets Coinbase Launch 24/7 Trading Without Review | Better...
WASHINGTON, D.C. — Cantrell Dumas, Director of Derivatives Policy at Better Markets, issued the following statement ...
bettermarkets.org
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