Washington, D.C., March 8, 2024 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the passage of the Improving Disclosure for Investors Act of 2024 as part of an important capital formation legislative package, H.R. 2799, the Expanding Access to Capital Act of 2023:

“SIFMA commends the House of Representatives for passing the Improving Disclosure for Investors Act of 2024 as an amendment to a broader legislative package focused on enhancing capital formation – H.R. 2799, the Expanding Access to Capital Act of 2023. Many of the reforms in the legislation passed today will help strengthen our capital markets, and our economy that depends on them, by reducing regulatory burdens that too often hinder capital formation. Notably, we applaud the sponsors of the Improving Disclosure for Investors Act of 2024, Reps. Bill Huizenga (R-MI), Jake Auchincloss (D-MA), Bryan Steil (R-WI), and Wiley Nickel (D-NC). This bill is an important step in modernizing the SEC’s disclosure delivery regulations to keep pace with changing investor preferences and technological advancements, while maintaining the highest levels of investor protections. Accordingly, it received broad bipartisan support as an amendment to H.R. 2799.

We appreciate the leadership of the House in passing this vital legislative package and look forward to working with members across Congress to continue advancing reforms to strengthen our capital markets and protect investors.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.