WASHINGTON, D.C.— Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with the filing of comment letters in response to the Commodities Futures Trading Commission’s (CFTC) Request for Comment on the trading and clearing of derivatives on a 24/7 basis, and the trading and clearing of perpetual derivatives. “The CFTC is standing at […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule to require more transactions in the U.S. Treasury markets to be cleared by a central clearing agency: “This proposal is part […]
WASHINGTON, D.C.— Stephen Hall, Legal Director and Securities Specialist at Better Markets, issued the following statement in response to the Securities and Exchange Commission’s (SEC) adoption of a final whistleblower rule reversing two flawed provisions written under the prior administration: “The SEC’s whistleblower program has been an extraordinarily effective enforcement tool in fighting against fraud […]
WASHINGTON, D.C.— Phillip Basil, Director of Banking Policy, issued the following statement after Better Markets filed a comment letter to the Department of the Treasury regarding its request for comment related to the President’s Executive Order “Ensuring Responsible Development of Digital Assets”: “The digital asset industry is seeking special carveouts, loopholes, and changes to our […]
WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement after Better Markets filed a comment letter to rulemaking agencies on ways to update the Community Reinvestment Act (CRA): “Credit, investment, and banking services have been unfairly if not illegally denied to too many Americans for too long. The CRA was supposed to […]
WASHINGTON, D.C.—Following Better Markets’ recommendations in its December 2021 comment letter, today the SEC rescinded provisions of a 2020 rule that stifled the availability of independent and timely advice for shareholders exercising their proxy voting rights. Legal Director and Securities Specialist Stephen Hall issued the following statement on the rule: “The SEC’s rule is a […]
WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of Better Markets comment letter to the Federal Deposit Insurance Corporation (FDIC) on their request for comments regarding its proposed principles for climate-related financial risk management for large banks. “We applaud the FDIC for incorporating climate-related financial risks into its risk management expectations […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule to modernize and expand the definition of those firms that are “dealers” or “government securities dealers” subject to SEC regulation: “This […]
WASHINGTON, D.C.— President and CEO Dennis M. Kelleher issued the following statement on the CFTC’s May 25 public roundtable on intermediation in derivatives trading and clearing, which was precipitated by FTX’s application to offer non-intermediated, margined clearing of Bitcoin futures products. On May 11, Better Markets filed a comment letter with the CFTC on FTX’s […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that would remove references to credit ratings from Regulation M: “Even before the 2008 financial crisis, when wildly inflated credit ratings […]
WASHINGTON, D.C.— Better Markets President and CEO Dennis M. Kelleher issued the following statement on the filing of Better Markets’ Comment Letter to the Commodity Futures Trading Commission (CFTC) in response to the agency’s request for comment on FTX’s proposal to offer non-intermediated, margined clearing of Bitcoin futures products: “FTX has filed an application with […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal to bring more transparency to short selling activity: “To protect investors and markets, short selling transparency must be increased. Disclosures must be […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) on the agency’s proposed rule that would require enhanced disclosures by private fund advisers and prohibit adviser practices that are especially harmful to fund investors: “The private funds […]
WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy for Better Markets, released the following statement on the filing of a comment letter to the Federal Reserve Board on its proposed guidelines for Reserve Banks when assessing applications for Federal Reserve accounts and services: “Unfortunately, the Federal Reserve’s proposed guidelines around assessments of access request to Fed […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that applies Regulation ATS governing “alternative trading systems” to platforms trading government securities and appropriately regulates Communication Protocol Systems as exchanges: […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) on the agency’s proposal to rollback harmful limits on whistleblower awards: “The SEC’s whistleblower program has been an enormous success, yet in 2020, the SEC adopted rules that […]
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