FOR IMMEDIATE RELEASE Friday, May 7, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on a joint letter submitted to the Department of Labor (“DOL”) calling for further guidance and rulemaking to rein in adviser conflicts of interest: […]
FOR IMMEDIATE RELEASE May 4, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of two comment letters to the SEC on proposals to allow compliance with foreign requirements to satisfy U.S. law: “The SEC has […]
Wednesday’s shocking resignation of the SEC’s recently announced Director of Enforcement, who spent more than 20 years as a Wall Street defense lawyer and only a little more than three years as a prosecutor in the last millennium, should be viewed as an opportunity for the agency to select someone appropriately qualified for the job. […]
FOR IMMEDIATE RELEASE Wednesday, April 28, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the Securities and Exchange Commission’s (SEC) announcement that the new Director of Enforcement has resigned: “The SEC has failed the […]
FOR IMMEDIATE RELEASE Friday, April 23, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director, and Securities Specialist released the following statement regarding today’s decision from the Eighth Circuit in Ford v. TD Ameritrade: “Today’s decision by the Eight Circuit Court will cause tens of millions of investors to […]
FOR IMMEDIATE RELEASE Thursday, April 22, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to Securities and Exchange Commission (SEC) Chairman Gary Gensler’s announcement of Alex Young K. Oh as the new Director of Enforcement: […]
FOR IMMEDIATE RELEASE Wednesday, April 21, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, issued the following statement in response to the verdict in the murder trial of George Floyd: “Justice for all and equal justice under law are the […]
FOR IMMEDIATE RELEASE Monday, April 19, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis Kelleher, Co-Founder, President and CEO of Better Markets, announced today that Phillip Basil, most recently an Executive Director with JP Morgan Chase and formerly Supervisory Financial Analyst for the Federal Reserve Board of Governors, will join Better […]
FOR IMMEDIATE RELEASE April 12, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of a comment letter to the SEC today on the need for additional regulation of money market funds (MMFs): “Finishing the job […]
FOR IMMEDIATE RELEASE April 12, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of an amicus brief defending a new order type that will help retail investors fight back against high-frequency trading (“HFT”) abuses, in […]
FOR IMMEDIATE RELEASE Thursday, April 1, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to reports that the most recent Chairman of the Commodities Futures Trading Commission (CFTC) was just hired by Citadel Securities: “The announcement […]
FOR IMMEDIATE RELEASE Monday, March 29, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to reports that Goldman Sachs, Morgan Stanley and other systemically significant global investment banks enabled a hedge fund to secretly accumulate […]
FOR IMMEDIATE RELEASE Friday, March 26, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the eve of oral argument in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, set for Monday morning, March 29, before the […]
FOR IMMEDIATE RELEASE Tuesday, March 16, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C. — Dennis Kelleher, Co-founder, President and Chief Executive Officer, will testify Wednesday, March 17, before the U.S. House Committee on Financial Services at a hearing titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail […]
FOR IMMEDIATE RELEASE Wednesday, March 3, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets Urges U.S. Supreme Court to Consider Goldman Sachs’ Monumental Conflicts of Interest During the Financial Crisis as It Reviews Shareholder Lawsuit Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the amicus […]
FOR IMMEDIATE RELEASE Thursday, February 25, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets Joins Coalition to Encourage Treasury Secretary Yellen to Name Senior, Experienced Climate Official Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement related to a letter it co-signed as part of a coalition […]
FOR IMMEDIATE RELEASE Monday, February 22, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets’ Letter to Senate Banking Committee on Key Financial Stability Issues for Tuesday’s Hearing with Federal Chairman Jay Powell Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in connection with a […]
FOR IMMEDIATE RELEASE Wednesday, February 17, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Modernizing Community Reinvestment Act Necessary to Meet Credit Needs of Underserved Communities Fed Must Commit to Overcoming Any Potential “Burden” to Banks Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist, issued the following statement after Better Markets filed […]
FOR IMMEDIATE RELEASE Tuesday, February 16, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets Sends Letter to House Financial Services Committee on Key Issues for Thursday’s Hearing on GameStop Trading and the Role of Robinhood, Citadel, Reddit Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued […]
FOR IMMEDIATE RELEASE Thursday, February 11, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] SEC’s Elimination of Automatic Waivers for Lawbreakers is a Good First Step in Reviving Meaningful Punishment and Deterrence to Protect Investors and Markets Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following […]
FOR IMMEDIATE RELEASE Tuesday, February 9, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to today’s action by the SEC to redelegate authority to enforcement staff to act more swiftly to detect and stop ongoing […]
FOR IMMEDIATE RELEASE Wednesday, February 3, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets’ Letter to Treasury Secretary and Financial Regulators Meeting on Issues Raised by Frenzied Trading in GameStop and Other Stocks Encourages Regulators to Aggressively Enforce the Laws While Investigating the Broad Range of Market Issues Highlighted by Recent Trading […]
FOR IMMEDIATE RELEASE Monday, February 1, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Key Issues for Investigation Regarding Robinhood, Reddit, GameStop and Rigged Markets Better Markets Issues a Fact Sheet for Investigators Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement and the attached Fact […]
FOR IMMEDIATE RELEASE Monday, January 18, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] CFPB Director Nominee Rohit Chopra Will Change Trump’s Predator Protection Bureau Back to a Consumer Protection Bureau Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to President-elect […]
FOR IMMEDIATE RELEASE Thursday January 14, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] OCC Finalizes “Fair Access” Rule that Increases Risk, Threatens Consumers and Ignores Thousands of Comments Opposing the Rule Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist, issued the following statement in response to the OCC’s finalizing […]
FOR IMMEDIATE RELEASE Wednesday, January 13, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets Applauds Gary Gensler’s Reported Selection as SEC Chairman Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to reports that President-Elect Joe Biden has chosen former […]
FOR IMMEDIATE RELEASE Wednesday, January 13, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] New Report on Wall Street’s Crime Spree From 1998-2020: 395 Major Legal Actions and $200 Billion in Fines/Settlements Lawbreaking by Six Largest Banks Proves It’s Time to Go After Bankers, Not Just Banks Washington, D.C. – Better Markets released […]
FOR IMMEDIATE RELEASE Tuesday, January 5, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Regulators Propose to Weaken Supervisory Guidance, a Critical Tool Designed to Correct Unsafe Bank Behavior Before It’s Too Late Washington, D.C. – Tim P. Clark, Distinguished Senior Banking Adviser for Better Markets, issued the following statement on the filing […]
FOR IMMEDIATE RELEASE Tuesday, December 29, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Senior Securities Policy Adviser Lev Bagramian issued the following statement after Better Markets filed a comment letter with the Securities and Exchange Commission on a proposed Financial Industry Regulatory Authority rule that fails to adequately protect unsuspecting […]
FOR IMMEDIATE RELEASE Tuesday, Dec. 15, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] FDIC Gives Early Holiday Gift to Banks with Approval of Two Rules on Acquisition of Industrial Banks and Broader Access to Brokered Deposits Mainstreet Americans Get a Lump of Coal Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist, issued […]
FOR IMMEDIATE RELEASE Wednesday, December 9, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] SEC Approval of Market Data Rules Has Potential to Increase Access to Data Positive Step But More is Needed to Rid Conflicts-of-Interest Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response […]
FOR IMMEDIATE RELEASE Tuesday, December 8, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement upon release of a white paper on the dangers of forcing financial regulators to conduct cost-benefit analysis: “For decades, the financial services industry has […]
FOR IMMEDIATE RELEASE Tuesday, December 8, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] The CFTC’s Failure to Address Electronic Trading Risks Leaves Derivatives Markets Vulnerable to Flash Crashes Washington, D.C. – Joseph Cisewski, Senior Derivatives Consultant and Special Counsel at Better Markets, issued the following statement with respect to the Commodity Futures […]
FOR IMMEDIATE RELEASE Friday, Dec. 4, 2020 Contact: Pamela Russell at [email protected] WASHINGTON, D.C. — Better Markets today released a White Paper that details how key Federal Reserve actions since 2018 have significantly weakened banking protection rules, making the economy and financial system more vulnerable to another crash, endangering Main Street families and businesses. Tim P. […]
FOR IMMEDIATE RELEASE Tuesday, Dec. 1, 2020 Contact: Pamela Russell at [email protected] Better Markets Releases Report Celebrating 10-Year Anniversary Major Milestone Reflects Nonprofit’s Success in Taking on Wall Street and Fighting for Main Street Families, Businesses and Community Banks WASHINGTON, D.C. — In recognition of its 10-year anniversary, Better Markets released a Report […]
FOR IMMEDIATE RELEASE Monday, November 23, 2020 Contact: Pamela Russell at [email protected] CFTC Staff Report on WTI Negative Pricing and Trading Irregularities Lacks Clear Objectives and Objectivity Washington, D.C. – Joseph R. Cisewski, Senior Derivatives Consultant and Special Counsel for Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) staff […]
FOR IMMEDIATE RELEASE Friday, November 20, 2020 Contact: Pamela Russell at [email protected] Better Markets Applauds CFTC Decision Not to Encourage Regulatory Arbitrage through Expansive Exemptions for Foreign Clearinghouses Washington, D.C. – Joseph R. Cisewski, Senior Derivatives Consultant and Special Counsel for Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s […]
FOR IMMEDIATE RELEASE Thursday, November 19, 2020 Contact: Pamela Russell at [email protected] The CFTC Should Not Have Permanently Codified Supposedly Transitional Exemptions from Competitive Trading Washington, D.C. – Joseph R. Cisewski, Senior Derivatives Consultant and Special Counsel for Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) action to […]
FOR IMMEDIATE RELEASE Monday, Nov. 2, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] SEC’s Expansion of Dark Markets Will Harm Investors and Public Markets Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response to the Securities and Exchange Commission’s approval of rules that will expand the ability […]
In the Middle of a Pandemic, Heartless CFPB Finalizes Rule Benefiting Predatory Debt Collectors at the Expense of Struggling Main Street Families FOR IMMEDIATE RELEASE Friday, October 30, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, released the following statement regarding the […]
FOR IMMEDIATE RELEASE Wednesday, October 28, 2020 Contact: Pam Russell at [email protected] Washington, D.C. – Joseph R. Cisewski, Senior Derivatives Consultant and Special Counsel for Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) finalization of a new framework governing derivatives use by certain registered funds: “The 2008 financial crisis demonstrated […]
FOR IMMEDIATE RELEASE Monday, October 26, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Keep Your Eyes on the Supreme Court And Your Hands on Your Wallet Judge Barrett’s Confirmation to the Court Means More Financial Abuse Without a Remedy Washington, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement following […]
FOR IMMEDIATE RELEASE Thursday, October 22, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding a new Report on the details of the previously released RAP Sheet Report on Goldman Sachs’ 20 years of illegal activities: “Goldman […]
FOR IMMEDIATE RELEASE Tuesday, October 20, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, released the following statement regarding the rulemakings today by the Federal Deposit Insurance Corporation (FDIC), which will also be adopted by the OCC and Federal Reserve: “It […]
FOR IMMEDIATE RELEASE Thursday, October 15, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Joseph R. Cisewski, Better Markets’ Senior Derivatives Consultant and Special Counsel, today condemned the Commodity Futures Trading Commission’s (CFTC) final position limits framework for derivatives on physical commodities, explaining that it will increase costs on working families, farmers and producers: […]
FOR IMMEDIATE RELEASE Thursday, October 8, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the eve of the confirmation hearings for Supreme Court nominee Judge Amy Coney Barrett and released a Report on the financial and […]
FOR IMMEDIATE RELEASE Thursday, October 1, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement after Better Markets filed its comment letter on the Qualified Mortgage proposal issued by the Consumer Financial Protection Bureau (“CFPB”): “In its latest […]
FOR IMMEDIATE RELEASE Tuesday, September 29, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, released the attached Report on JPMorgan Chase’s 20-year-long RAP sheet and issued the following statement in connection with media reports that the bank is negotiating a favorable […]
FOR IMMEDIATE RELEASE Wednesday, September 23, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response to the Securities and Exchange Commission’s vote on the changes to the Whistleblower Program: “Today, the Trump administration’s SEC—in a partisan vote and […]
FOR IMMEDIATE RELEASE Wednesday, September 23, 2020 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response to the Securities and Exchange Commission’s partisan vote on a shareholder proposals’ rule: “Today, the Trump administration’s SEC once again fed the swamp […]
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