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SIFMA Testifies on Legislative Proposals to Enhance Capital Formation and Reduce Regulatory Burdens

May 19, 2015

Chairman and CEO of Stifel and member of the SIFMA Board of Directors, testified on behalf of SIFMA this week before the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises. Kruszewski noted the proposals under discussion are important and appropriate work to promote capital formation. They build upon the success of the “Jobs Act” and establish a more common sense balance between investor protection and capital formation. “Our robust capital markets distinguish our economy from every other on earth, but without consistent attention and improvement, will not be as efficient as possible,” said Kruszewski. “SIFMA and its member firms will remain willing partners with this Committee and your colleagues in Congress as you work to get these bills to the President for his signature.” The testimony notes:

  • Strong support for the “Fair Access to Investment to Research Act of 2015,” which aims to reduce obstacles to the provision of research on exchange traded funds and registered investment companies;
  • Support for a retrospective review of existing regulation, pursuant to an SEC request for comment on its rule review process;
  • Support for the SEC moving forward with a study of innovative ideas to improve liquidity in small-cap and mid-cap stocks, while carefully considering changes to market structure for less liquid securities to avoid the unintended consequence of impeding competition in the name of possibly increasing liquidity;
  • And more, including commentary on the “RAISE Act,” access to capital for emerging growth companies, and the merger and acquisition broker bill.


May 19, 2015
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