FOR IMMEDIATE RELEASE
Monday, August 10, 2015
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com
Better Markets: No More Secret SIFMA Studies or Meetings
**Click Here to Download: Fact Sheet: Don’t Fall for SIFMA’s Spin Campaign**
Washington, DC — Better Markets President and CEO Dennis Kelleher released this statement following the testimony of Ken Bentsen, Securities Industry and Financial Markets Association’s (SIFMA) President and Chief Executive Officer, during the hearing on the Department of Labor’s (DOL) best interest standard today:
“SIFMA’s ‘offer’ to meet secretly with DOL at today’s hearing on the proposed best interest fiduciary duty rule should be rejected. SIFMA should not be allowed to use purchased ‘studies’ that use secret data hidden from the public and independent scrutiny to kill the DOL’s best interest fiduciary duty rule. The DOL should not grant SIFMA’s request to meet in a nonpublic secret meeting to discuss their purchased ‘studies.’ In fact, SIFMA’s so-called ‘studies’ should be entirely disregarded unless and until the underlying information and data is publicly disclosed fully in sufficient detail to allow analysis by independent professionals.”
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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.
