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Category: Press Releases

Better Markets Congratulates Tim Clark on Being Named to the FDIC’s Systemic Resolution Advisory Committee (SRAC)

WASHINGTON, D.C.— Better Markets congratulates Tim Clark, the organization’s Distinguished Senior Banking Adviser, on his appointment to the Federal Deposit Insurance Corporation’s (FDIC’s) Systemic Resolution Advisory Committee (SRAC). The Committee provides advice and recommendations on a broad range of issues regarding the resolution of systemically important financial companies. “Tim’s 23 years of experience at the […]

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Better Markets Welcomes the SEC’s Proposed Rule to Protect Investors and Financial Stability With Liquidity Management and Swing Pricing in Open-end Funds

WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist, issued the following statement upon the Securities Exchange Commission’s proposed rule: “Better Markets welcomes the SEC’s proposed rulemaking to protect investors and financial stability by improving liquidity management and implementing swing pricing for open-end funds. “As one of the primary investment vehicles for Americans’ hard-earned retirement […]

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We Applaud the SEC’s Improved Enforcement Record, But Corporate Lawbreaking Will Continue and Increase Until Individuals Are Meaningfully Punished in Every Case

WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, released the following statement in connection with today’s announcement by the Securities and Exchange Commission (SEC) on its enforcement record for fiscal year 2022: “The SEC’s enforcement results, as presented by the Chair today, were much improved, but much more needs to be done, including relying less […]

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SEC Rule to Clawback Excessive Compensation Is Win for Investors and Deterrent for Risky Corporate Behavior

WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist, issued the following statement in response to the Securities and Exchange Commission’s (SEC) adoption of a final rule on Listing Standards for Recovery of Erroneously Awarded Compensation: “This rule is a big win for investors. When companies distort their financial statements, regardless of whether it’s through […]

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The Fifth Circuit’s Decision Finding the CFPB Is Unconstitutional and Overturning Its Payday Lending Rule Is Legally Defective

WASHINGTON, D.C.— Dennis Kelleher, Cofounder, President and CEO, issued the following statement in response to the recent decision by the U.S. Court of Appeals for the Fifth Circuit in Community Financial Services Association of America, Ltd. v. Consumer Financial Protection Bureau: “A three-judge panel of the U.S. Court of Appeals for the Fifth Circuit found […]

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Acting FDIC Chair Martin Gruenberg’s Framework for Evaluating the Known Serious Risks and Speculative Benefits of Crypto and Digital Assets Strikes the Right Balance

WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued this statement following the remarks by Acting Chair of the FDIC Martin Gruenberg at an event today at the Brookings Institution entitled “Regulating digital assets: The prudential perspective”: “As crypto and other digital assets proliferate along with promoters’ claims they will address many of society’s […]

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Better Markets Welcomes Banking Agencies Increased Scrutiny of US Bancorp Merger, but More Must Be Done to Lower Systemic Risk

WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued the following statement upon the approval by the Federal Reserve and the Office of the Comptroller of the Currency in consultation with the FDIC (“banking agencies”) for U.S. Bancorp to acquire the U.S. operations of MUFG, which will make U.S. Bancorp the seventh largest U.S. […]

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SEC Plans to Reform Clearing Agency Governance Will Help Address Conflicts of Interest, but Agency Must Go Further

WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist, issued the following statement in connection with Better Markets’ comment letter filed with the Securities and Exchange Commission (SEC) in response to a proposed rule to reform the governance and the management of conflicts of interest at financial clearing agencies. “Clearing agencies play a vital role […]

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CFTC Must Not Substitute Weaker Foreign Rules on Swap Dealers for U.S. Requirements

WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist at Better Markets, released the following statement in connection with Better Markets filing a comment letter in response to the Commodity Futures Trading Commission’s proposed order conditionally providing for substituted compliance for nonbank swap dealers organized and domiciled in Japan. “In response to the 2008 financial crisis, Congress […]

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