Rebalancing the Financial Regulatory Landscape
The Treasury Secretary’s report on which financial laws and regulations promote and support President Trump’s Core Principles is an important opportunity to take stock of and reframe the policy discussions around post financial crisis regulation. SIFMA strongly supports the Core Principles as the right framework for rebalancing U.S. financial regulation. This White Paper in response to the Presidential Executive Order on Core Principles for Regulating the United States Financial System covers key topic areas where the SIFMA membership has gathered together those recommendations that it believes, if adopted, would rebalance financial laws, regulations and guidance in a way that will allow the financial sector to promote job creation and economic growth while maintaining a robust regulatory regime and preserving financial stability.
See Also: Presidential Executive Order on Core Principles for Regulating the United States Financial System
Excerpt
Executive Summary
The Treasury Secretary’s report on which financial laws and regulations promote and support President Trump’s Core Principles is an important
opportunity to take stock of and reframe the policy discussions around post-financial crisis regulation. SIFMA strongly supports the Core Principles as the right framework for rebalancing U.S. financial regulation. This White Paper covers key topic areas where the SIFMA membership has gathered together those recommendations that it believes, if adopted, would rebalance financial laws, regulations and guidance in a way that will allow the financial sector to promote job creation and economic growth while maintaining a robust regulatory regime and preserving financial stability.
Each topic in this White Paper is covered in a separate Chapter and includes: regulatory architecture and good governance, stress testing and capital requirements, liquidity and funding requirements, the Volcker Rule, living wills, derivatives, incentive compensation, key topics in banking regulation, securitization, promoting equity market issuances, enhanced prudential standards for foreign banking organizations, and fiduciary regulation.
Each Chapter in the White Paper describes the original reason for the policy, sets forth the need for rebalancing and explains SIFMA’s recommendations and the reasons behind them in detail. A short-form grid of the recommendations is set forth at the end of this Executive Summary.
The Executive Summary begins by situating the recommendations and the need for rebalancing within the context of the increased resiliency of the U.S. financial system today, the need to maintain those regulatory enhancements that are key to financial stability and in light of the slow economic recovery after the financial crisis.