BETTER MARKETS STATEMENT ON SECRETARY GEITHNER SPEECH Dennis Kelleher, president and chief executive officer of Better Markets, gave the following response to Treasury Secretary Geithner’s remarks at the International Monetary Conference: The Treasury secretary is right: preventing another global race to the bottom is essential if we are to avoid another financial meltdown. It is […]
BETTER MARKETS LAUDS FSOC ON ITS FIRST FINAL RULE Dennis Kelleher, president and chief executive officer of Better Markets, praised the Financial Stability Oversight Council release of its first final rule dealing with systemic risk by announcing the way they will designate large payment clearing and settlement companies as systemically important: “In its first final […]
BETTER MARKETS STATEMENT ON FSOC MEETING Dennis Kelleher, Better Markets President and CEO, made the following statement after the Financial Stability Oversight Council met today and issued one final rulemaking: The importance of the Financial Stability Oversight Council cannot be overstated. It alone is responsible for the financial system as a whole and doing everything […]
BETTER MARKETS SAYS “NO LOOPHOLES” IN DODD-FRANK RULES Michael Masters, founder and chairman of the board of Better Markets, participated today in a CFTC/SEC roundtable and called on both agencies to ensure final rules for the $600 trillion derivatives marketplace prevent loopholes that could lead to another financial crisis, placing taxpayers and the public treasury […]
BETTER MARKETS STATEMENT ON CFTC DELAY OF DODD-FRANK RULES Better Markets President and CEO Dennis Kelleher made the following statement today on the decision by the Commodity Futures Trading Commission to temporarily delay final Dodd-Frank rules: “The CFTC’s announced modest delay to finalize its work on financial reform rules is thoughtful and appropriate. The CFTC […]
BETTER MARKETS CALLS ON TOUGH CAPITAL STANDARDS FOR NONBANKS Better Markets appreciates the proposal the Commodity Futures Trading Commission issued today that would bring new transparency to capital standards for swap dealers and major swap participants – such as energy firms, agricultural companies, high-frequency traders and hedge funds. These standards would help prevent a default […]
BETTER MARKETS LAUDS ANTI-MANIPULATION RULE Better Markets President and CEO Dennis Kelleher made the following statement today on the CFTC’s adoption of its anti-manipulation rule: “The CFTC provided good news today for investors and the financial markets by adopting a strong anti-manipulation rule, rejecting industry attempts to gut it. The agency also rejected proposed limitations […]
BETTER MARKETS STATEMENT ON BASEL COMMITTEE DECISION Better Markets President and CEO Dennis Kelleher made the following comment today after the decision by the Basel Committee to impose additional surcharges on large banks: The new Basel capital standards are better than they were before, but they simply aren’t enough. It must be remembered that the […]
CFTC ACTS TO HELP PREVENT ANOTHER FINANCIAL CRISIS The Commodity Futures Trading Commission today adopted two proposed rules establishing phased-in effective dates for financial reforms. The rules relate to documentation, margining, mandatory clearing and trading. The rules are expected to be finalized in the coming month and their future effective dates will vary based on […]
CFTC PUTS WHISTLEBLOWERS TO WORK TO PROTECT AMERICAN TAXPAYERS Dennis Kelleher, president and chief executive officer of Better Markets, made the following comments today on the Commodity Futures Trading Commission’s action on Dodd-Frank rulemaking: The CFTC adopted three rules today but none were more important than those that reward whistleblowers. With budgets being cut and […]
Better Markets called today for the Securities and Exchange Commission to provide more rigorous oversight of the troubled credit-rating industry. “The SEC needs to use its new authority under Dodd-Frank to require these firms to impose tough internal controls and rid themselves of conflicts of interest that helped drive the U.S. economy to near collapse,” […]
Better Markets, a watchdog group promoting the public interest in the capital and commodity markets, has urged federal regulators to curb commodities speculation so American families and businesses will stop being gouged at the gas pump and checkout lane by Wall Street. The nonpartisan group filed a comment letter Monday with the Commodity Futures Trading […]
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