FOR IMMEDIATE RELEASE Wednesday, December 15, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen Hall, Better Markets’ Legal Director and Securities Specialist, released the following statement on the filing of a comment letter to the U.S. Securities and Exchange Commission in support of a proposed rule that will enhance transparency in the way […]
FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the district court’s decision in In re Goldman Sachs Group, Inc. Securities Litigation, issued yesterday and in line with our amicus brief filed […]
FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.— Legal Director and Securities Specialist Stephen Hall issued the following statement on the release of a new Better Markets report, How Can the SEC Address Racial Economic Inequality Through Regulation of the Securities Markets for All Americans? “In a […]
WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the filing of Better Markets’s supplemental comment letter on recovery of erroneously awarded compensation: “We’re pleased that the SEC is poised to finalize an important rule that will require corporate executives to give back incentive-based compensation that they didn’t deserve. […]
WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the release of Better Markets’ Fact Sheet on special purpose acquisition companies: “Special purpose acquisition companies, or SPACs, have become increasingly trendy of late, commanding an increasing amount of attention. They are basically public blank check companies formed to identify […]
This case will determine whether the SEC can level the playing field for all investors or whether Citadel will succeed in protecting the status quo so it can continue raking in huge and unfair profits. The SEC approved an innovative new order type developed by a pro-investor exchange known as IEX, which helps neutralize the […]
WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the oral argument scheduled for Monday, October 25, 2021 before the D.C. Circuit in Citadel Securities LLC v. SEC: “Our securities markets are rigged in favor of Wall Street at the expense of everyday retail investors. A handful of high-frequency […]
WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve’s announced new trading policies: “The changes announced today by the Federal Reserve are long overdue and a good start, but don’t go far enough. First, the policies must be broader and apply to […]
WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the revelations that Federal Reserve Chair Jay Powell traded during the pandemic in 2020: “It was reported yesterday that the most senior leader of the U.S. central bank, Federal Reserve Chair Jay Powell, had substantial personal […]
The Fed Continues to Stonewall the American People by Refusing to Disclose the Extent of Trading During the Pandemic by Fed Leaders and Staff WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement announcing the launch of a real-time clock on its website www.bettermarkets.org that […]
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement in response to the SEC investigation of Federal Reserve leaders’ trading during the pandemic and confirmation of applicability of insider trading laws to those in government: “As SEC Chairman Gensler testified at the House Financial Services Committee (quoted […]
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 Securities and Exchange Commission (SEC) in response to their Request for Information (RFI) on digital engagement practices (DEPs) and the gamification of investing through online trading platforms and mobile apps: “We commend the […]
The American People Deserve to Know if Laws Were Broken WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement on reporting that the Fed is working with the Office of Inspector General in its review of trades made by senior central bank officials during the pandemic: “We welcome […]
The Pandemic Trading Violated Clear Fed Policies and the Fed Must Tell The American People Who Else Traded During the Pandemic WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter he sent to Federal Reserve Chairman Powell: “The Federal Reserve appears to […]
Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding today’s announcement of Dan Berkovitz as General Counsel of the U.S. Securities and Exchange Commission (“SEC”): “Dan Berkovitz, the SEC next General Counsel, is highly qualified for this position given his decades of varied experience. His […]
Chair Powell Must End the Cover Up and Come Clean With The American People: Disclose Everyone At The Fed Who Engaged in Pandemic Profiteering Trading WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with the announcement that Boston Fed President Eric Rosengren is retiring […]
FOR IMMEDIATE RELEASE Wednesday, September 22, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with the press conference today by the Chairman of the Federal Reserve: Chairman Powell’s answers and non-answers at today’s press conference regarding […]
FOR IMMEDIATE RELEASE Wednesday, September 22, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following questions that should be asked of the Chairman of the Federal Reserve, Jay Powell, regarding the trading scandal engulfing the central banks: Has the trading […]
FOR IMMEDIATE RELEASE Tuesday, September 21, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter Better Markets sent to the Chairman of the Federal Reserve, Jay Powell, regarding the termination of Fed Presidents who […]
FOR IMMEDIATE RELEASE Monday, September 20, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter Better Markets sent to the Chairman of the Federal Reserve, Jay Powell, regarding the trading by senior Fed officials […]
FOR IMMEDIATE RELEASE Wednesday, August 25, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement on Securities and Exchange Commission (SEC) Chair Gary Gensler’s appointment of Consumer Federation of America investor protection director Barbara Roper as a senior advisor: “Chairman […]
Investors, public interest advocates, the financial sector, regulators, policymakers, and elected officials in the U.S. and abroad have paid increasing attention to the way companies address environmental, social, and governance (“ESG”) issues in recent years. Over the last decade or so, more and more investors are considering how companies incorporate these factors into their operations, […]
Earlier this month, Better Markets filed a comment letter in response to an SEC request for public input on climate change-related disclosures. Better Markets applauds the SEC for beginning the process of engaging on this critical issue. Climate change will have a drastic impact on every aspect of our economy and promises to disrupt the […]
Better Markets filed a comment letter urging the SEC to finalize and adopt a “universal proxy” rule as soon as possible. Earlier this month, Better Markets filed a supplementary comment letter on a proposal by the SEC to establish a universal proxy requirement for most contested corporate elections. We support the creation of a universal […]
FOR IMMEDIATE RELEASE June 14, 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 urging the SEC to establish a new disclosure framework for climate-related risks that companies face. There is a […]
FOR IMMEDIATE RELEASE June 14, 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 urging the SEC to establish a new disclosure framework for climate-related risks that companies face. “There is a […]
FOR IMMEDIATE RELEASE June 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 the filing of a comment letter to the SEC on the need to quickly adopt the “universal proxy” so that all shareholders are able […]
FOR IMMEDIATE RELEASE June 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 the filing of a comment letter to the SEC on the need to quickly adopt the “universal proxy” so that all shareholders are able […]
FOR IMMEDIATE RELEASE Monday, June 7, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, praised the Securities and Exchange Commission’s action today regarding ending abusive executive stock trading: SEC Chairman Gensler’s decision to re-examine the rules governing executive stock trading plans, also known […]
FOR IMMEDIATE RELEASE Monday, June 7, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, praised the Securities and Exchange Commission’s action today regarding ending abusive executive stock trading: SEC Chairman Gensler’s decision to re-examine the rules governing executive stock trading plans, also known […]
FOR IMMEDIATE RELEASE Friday, June 4, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement regarding the Securities and Exchange Commission’s (SEC) removal of the Chairman of the Public Company Accounting Oversight Board today and its plan to replace all […]
FOR IMMEDIATE RELEASE Friday, June 4, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement regarding the Securities and Exchange Commission’s (SEC) removal of the Chairman of the Public Company Accounting Oversight Board today and its plan to replace all […]
FOR IMMEDIATE RELEASE Monday, June 1, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, applauded the Securities and Exchange Commission’s action today regarding proxy voting advice: “We applaud the SEC Chairman’s action today directing the staff to consider recommending further regulatory action in […]
FOR IMMEDIATE RELEASE Monday, June 1, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, applauded the Securities and Exchange Commission’s action today regarding proxy voting advice: “We applaud the SEC Chairman’s action today directing the staff to consider recommending further regulatory action in […]
FOR IMMEDIATE RELEASE Friday, May 28, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, applauded President Biden’s budget request increases for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), but noted that they are still insufficient: America’s families, […]
House Financial Service Committee Chairwoman Maxine Waters held a third hearing on Thursday, May 6, to examine the recent market volatility involving GameStop and other stocks. The virtual hearing, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III” can be viewed here. Also, Better Markets’ Dennis Kelleher recently discussed […]
By Dennis Kelleher, Co-founder, President and CEO of Better Markets (The op-ed originally appeared in the Financial Times—condensed for length and subscription required. The complete op-ed is below.) Gary Gensler, the former Chairman of the Commodity Futures Trading Commission (CFTC) and former partner at Goldman Sachs, was sworn into office Saturday, April 17, 2021, as the new Chairman of […]
Better Markets provides insights and perspectives on recent events at the SEC in the following op-eds and press releases. Read below to learn more about the confirmation of Gary Gensler as the new SEC Chair and steps he needs to take to help Main Street Americans; the appointment and sudden resignation of his new Enforcement Director; […]
The Financial Times published an op-ed by Dennis Kelleher on the SEC agenda under new Chairman Gary Gensler. You can read it here (subscription required), but, due to space, the submitted op-ed was cut. Click on the link below for the full op-ed.
Better Markets championed retail investors in an amicus brief that defended a new order type developed by IEX that helps everyday investors fight back against high-frequency trading (HFT) abuses. In our brief, we explain the huge advantages that HFT firms like Citadel Securities enjoy and the harm they inflict on investors. We also show how the D-Limit […]
Better Markets filed a comment letter earlier this month in response to the SEC’s request for input on 10 possible reforms that the President’s Working Group laid out last December for recently bailed out money market funds (MMFs). Why this matters? Finishing the job of regulating MMFs is long overdue and vitally needed to avoid another taxpayer […]
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 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 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 […]
Better Markets filed an amicus brief in the U.S. Supreme Court in support of shareholders seeking compensation for Goldman Sachs’ role in the 2008 financial crisis. Oral argument is set for March 29. Before the Supreme Court is a group of Goldman shareholders seeking to hold the bank accountable for its misrepresentations through a class […]
Better Markets’ Co-founder, President and CEO Dennis Kelleher testified at the March 17 House Financial Services Committee Hearing titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part II.” In addition to submitting detailed written testimony before the hearing, Dennis gave a five-minute opening statement at the beginning of the hearing when […]
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