FOR IMMEDIATE RELEASE Monday, February 10, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the President’s proposed fiscal year 2021 budget for the Commodity Futures Trading Commission (CFTC): “Dangerous derivatives were at the core of causing and spreading the 2008 financial […]
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FOR IMMEDIATE RELEASE Tuesday, February 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) proposals on proxy advice and shareholder proposals: “The SEC’s proposals regarding proxy firms and shareholder proposals will help entrench existing management and make […]
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FOR IMMEDIATE RELEASE Tuesday, February 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve’s permanent bar against a senior executive of Goldman Sachs for his actions in connection with 1MDB: “The Department of Justice labeled a Goldman […]
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FOR IMMEDIATE RELEASE Thursday, January 30, 2020 Contact: [email protected], 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Commodity Futures Trading Commission’s (CFTC) newest proposal of a position limits rule: “The CFTC is required by law to prevent excess speculation in the derivatives […]
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FOR IMMEDIATE RELEASE Thursday, January 30, 2020 Contact: [email protected], 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the action taken by Board of Governors of the Federal Reserve (“Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Commodities Futures Trading Commission (“CFTC”) […]
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FOR IMMEDIATE RELEASE Tuesday, January 28, 2020 Contact: [email protected] 202-618-6433 $874 Billion in Bailouts, 36 Legal Actions, $9.8 Billion in Fines and Settlements + 1MDB Fines Coming Washington, D.C. – On the eve of Goldman Sachs’ first investor day, Better Markets releases a RAP Sheet Report detailing two decades of illegal behavior by Goldman Sachs […]
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FOR IMMEDIATE RELEASE Thursday, January 23, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement about the amicus brief filed in the Supreme Court by Better Markets, the Center for Responsible Lending, and the National Consumer Law Center, in Liu v. SEC on […]
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FOR IMMEDIATE RELEASE Friday, January 17, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to a speech by the Vice Chairman for Supervision for the Federal Reserve, Randal Quarles: “The Vice Chairman for Supervision at the Federal Reserve Board […]
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FOR IMMEDIATE RELEASE Thursday, January 16, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to the announced upcoming departure of SEC Commissioner Rob Jackson: “SEC Commissioner Rob Jackson knows that the financial industry’s agenda of using regulation and regulators […]
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FOR IMMEDIATE RELEASE Wednesday, January 8, 2020 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor, issued the following statement in response to the actions taken by the Securities and Exchange Commission (SEC) today at the meeting that approved on a party-line 3-2 vote a proposal regarding stock exchanges and […]
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FOR IMMEDIATE RELEASE Monday, January 6, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement about the amicus brief filed by Better Markets and the Consumer Federation of America (CFA) in support of a legal challenge to the SEC’s “Regulation […]
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FOR IMMEDIATE RELEASE Thursday, December 19, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Commodity Futures Trading Commission’s (CFTC) proposed elimination of post-trade name give-up, a practice that for too long has enabled dealer domination of the […]
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FOR IMMEDIATE RELEASE Wednesday, December 18, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response to the SEC’s regulatory actions: “Christmas came early for Wall Street today as the SEC opened a big bag of gifts for the financial industry […]
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FOR IMMEDIATE RELEASE Monday, December 9, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement after Better Markets called upon the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) to investigate allegations that dozens of fraudulent or […]
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FOR IMMEDIATE RELEASE Monday, December 9, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in connection with the death of Paul A. Volcker: “The passing of Paul Volcker is a tremendous loss for his family, friends and, indeed, the country. […]
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FOR IMMEDIATE RELEASE Tuesday, October 29, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to reports that government ethics rules won’t prevent Eugene Scalia from participating in the Department of Labor’s re-write of a key investor protection rule: “On behalf of […]
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FOR IMMEDIATE RELEASE Tuesday, October 29, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to the SEC’s proposed amendments to the national market system plan governing the Consolidated Audit Trail (CAT): “The Consolidated Audit Trail (CAT) promises to be a revolutionary […]
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FOR IMMEDIATE RELEASE Monday, October 28, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Office of the Comptroller, Federal Deposit Insurance Corporation, Farm Credit Administration, Federal Housing Finance Agency, and the Board of Governors of the Federal Reserve […]
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FOR IMMEDIATE RELEASE Monday, October 21, 2019 Contact: [email protected] or (202)618-6433 Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement in advance of the Senate Banking Committee’s hearing on “Oversight of the Status of the Consolidated Audit Trail,” scheduled for Tuesday, October 22, 2019: The Senate Banking Committee, […]
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FOR IMMEDIATE RELEASE Friday, October 4, 2019 Contact: [email protected] or (202)618-6433 Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement announcing the release of a special report highlighting the powerful impact of the Supreme Court on the financial well-being of all Americans: “Our report reviews the […]
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FOR IMMEDIATE RELEASE Wednesday, October 2, 2019 Contact: [email protected] or (202)618-6433 Washington, D.C. – Dennis M. Kelleher, President and CEO of Better Markets, announces that Tim P. Clark, a 23-year veteran of the Federal Reserve and former Deputy Director of the Division for Supervision and Regulation for the Federal Reserve Board, will serve as Distinguished Senior […]
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FOR IMMEDIATE RELEASE Thursday, September 26, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement following the SEC’s adoption of its “Testing the Waters” rule: “Today, at the request of — and with the full support of — the industry, the SEC finalized […]
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FOR IMMEDIATE RELEASE Tuesday, September 24, 2019 Contact: [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in connection with filing a comment letter today on the SEC’s Concept Release on Harmonization of Securities Offering Exemptions: “The SEC’s so-called ‘harmonization’ concept release contemplates building on and […]
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FOR IMMEDIATE RELEASE Wednesday, September 18, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and CEO of Better Markets, issued the following statement with the filing of a comment letter on the Consumer Financial Protection Bureau’s (“CFPB’s”) proposed rules implementing the Fair Debt Collection Practices Act: “Almost all Americans pay their debts and […]
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FOR IMMEDIATE RELEASE Monday, September 16, 2019 Contact: [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist at Better Markets, made the following statement in connection with the release of a Report and accompanying Summary on President Trump’s nominee, Eugene Scalia, to be Secretary for the Department of Labor (DOL): “As an […]
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FOR IMMEDIATE RELEASE Monday, September 16, 2019 Contact: [email protected] Washington, D.C. – Joseph R. Cisewski, Senior Derivatives Consultant for Better Markets, issued the following statement with respect to the Commodity Futures Trading Commission’s (CFTC) adoption of the revised Volcker Rule: “The CFTC today celebrated the anniversary of the collapse of Lehman Brothers by approving a […]
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FOR IMMEDIATE RELEASE Friday, September 13, 2019 Contact: [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in connection with the release of a “Presentation on the State of Financial Reform on the Anniversary of the Crash of Lehman Brothers”: “The Wall Street investment bank, Lehman Brothers, […]
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FOR IMMEDIATE RELEASE Wednesday, September 11, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) upcoming meeting to finalize a substantially weakened Volcker Rule on the anniversary of the collapse of Lehman Brothers: “The anniversary of the […]
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FOR IMMEDIATE RELEASE Tuesday, September 10, 2019 Contact: [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist at Better Markets, issued the following statement following news that seven states have filed a lawsuit in Federal Court challenging the SEC’s so-called “Regulation Best Interest”: “This is a good day for investors, and we […]
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FOR IMMEDIATE RELEASE Wednesday, August 28, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement with respect to the recently announced new Volcker Rule: “Better Markets today issued a Fact Sheet on the new Volcker Rule to correct the misimpression and misstatements that […]
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FOR IMMEDIATE RELEASE Wednesday, August 21, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement with respect to the Securities and Exchange Commission’s (SEC) votes today on shareholder voting and proxy rules applicable to voting advice: “For years, corporate management and the Chamber […]
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FOR IMMEDIATE RELEASE Tuesday, August 20, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement with respect to the revised Volcker Rule finalized by the Federal Deposit Insurance Corporation (FDIC) this morning: “Proprietary trading by Wall Street’s biggest banks and derivatives dealers generates […]
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FOR IMMEDIATE RELEASE Tuesday, August 13, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement with respect to the revised Volcker Rule expected to be finalized by regulators beginning with the Federal Deposit Insurance Corporation (FDIC) next Tuesday: “Champagne corks are no doubt […]
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FOR IMMEDIATE RELEASE Friday, August 9, 2019 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement with respect to the new Office of Financial Research (“OFR”) staff paper on the purported bond-market liquidity effects of the Volcker Rule: “The ‘staff working paper’ released by […]
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FOR IMMEDIATE RELEASE Friday, July 1, 2019 Contact: Jon Pattee at [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement relating to the Commodities Futures Trading Commission (CFTC) Division of Swap Dealer and Intermediary Oversight’s (DSIO) relief from swap dealer registration for Floor Traders meeting […]
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FOR IMMEDIATE RELEASE Wednesday June 5, 2019 Contact: [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the SEC’s vote today to finalize its misleadingly labeled “Regulation Best Interest”: “On the 85th anniversary of the founding of the SEC, the SEC is turning […]
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FOR IMMEDIATE RELEASE Wednesday, May 29, 2019 Contact: [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement and Fact Sheet in advance of the SEC’s June 5, 2019 meeting to finalize its so-called “Regulation Best Interest” proposal: “Tens of millions of America’s investors and retirees are […]
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FOR IMMEDIATE RELEASE Thursday, May 9, 2019 Contact: Press at [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) proposed rollback of Sarbanes Oxley’s 404(b)’s requirement that auditors attest to the adequacy of certain companies’ internal controls: “Nothing focuses […]
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FOR IMMEDIATE RELEASE Monday, April 29, 2019 Contact: Carol Kaplan, 202-618-6430 or [email protected] Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement in remembrance of former CFTC Commissioner Bart Chilton: “Former CFTC Commissioner Bart Chilton knew better than most how Wall Street’s biggest derivatives dealers used impenetrable jargon and […]
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FOR IMMEDIATE RELEASE Thursday, April 25, 2019 Contact: Carol Kaplan, 202-618-6430 or [email protected] GOLDMAN SACHS’ “FOUR MONKEYS” DEFENSE SHOULD BE REJECTED Washington, D.C. – With the Department of Justice considering criminal charges against Goldman Sachs for its involvement in the 1MDB crime spree and with Attorney General Barr obtaining a waiver to act in the […]
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FOR IMMEDIATE RELEASE Tuesday, April 9, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] Washington, D.C. – As the CEOs of Wall Street’s biggest megabanks appear before Congress, Better Markets is releasing a Report, “Wall Street’s Six Biggest Bailed-Out Banks: Their RAP Sheets & Ongoing Crime Spree.” The Report, for the first time, details the Six […]
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FOR IMMEDIATE RELEASE Thursday, March 28, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement on the announcement of the coming retirement of Wells Fargo CEO, Tim Sloan: “Before it became a customer predator, Wells Fargo was America’s bank, focused […]
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FOR IMMEDIATE RELEASE Wednesday, March 27, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the ruling by the Supreme Court in Lorenzo v. SEC that individuals can be liable for fraud when they disseminate fraudulent information, even if […]
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FOR IMMEDIATE RELEASE Monday, March 25, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) creation of a new exemption for bank swaps dealing activities in violation of the law: “Unregulated swaps dealing […]
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FOR IMMEDIATE RELEASE Wednesday, March 6, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] “Out of Business” FSOC Puts Another Nail in Its Own Coffin Washington, D.C. – Following the announcement today from the Financial Stability Oversight Council (FSOC) that it would be putting forth a proposal to shift to activities-based regulation of nonbanks, Dennis […]
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FOR IMMEDIATE RELEASE Wednesday, March 6, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] Fed’s Stress Test Changes Shortchange the Public and Markets Washington, D.C. – Following the Federal Reserve’s announcement of changes to stress tests, Dennis Kelleher, president and CEO of Better Markets, issued this statement: “The Fed seems to be enacting a double standard […]
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FOR IMMEDIATE RELEASE Tuesday, February 5, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] FED RISKS SNATCHING DEFEAT FROM THE JAWS OF VICTORY Washington, D.C. – Dennis Kelleher, president and CEO of Better Markets, issued the following statement following the announcement by the Fed finalizing changes to bank stress tests: “The Fed’s rigorous and independent stress […]
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FOR IMMEDIATE RELEASE Friday, January 25, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] CFTC GRANTS BETTER MARKETS REQUEST TO EXTEND PUBLIC COMMENT PERIOD ON SWAP EXECUTION FACILITIES (SEF) RULE Washington, D.C. – Dennis Kelleher, president and CEO of Better Markets, issued the following statement following an announcement by Chairman of the Commodity and Trading Futures […]
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FOR IMMEDIATE RELEASE Wednesday, January 16, 2019 Contact: Nick Jacobs, 202-618-6430 or [email protected] JOHN BOGLE: A TIRELESS ADVOCATE FOR THE SMALL INVESTOR AND THE CONSCIENCE OF THE FINANCIAL INDUSTRY Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement on the passing of John C. Bogle, the founder and former […]
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FOR IMMEDIATE RELEASE Wednesday, December 26, 2018 Contact: Nick Jacobs, 202-618-6430 or [email protected] Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement in response to increasing speculation about the impact of computer trading on the stock market swings and precipitous drop: “Treasury Secretary Mnuchin along with many others have […]
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