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Articles tagged with: investor protection

AFR Statement: Senate Banking Committee Takes Up Dangerous Securities Bills
June 26, 2018 – 11:32 am

“The Senate Committee on Banking, Housing, and Urban Affairs meets today to conduct hearings on a set of bills ostensibly designed to increase access to capital. Several of these bills are part of a dangerous agenda to rollback securities markets regulations. The deregulation of private capital markets contemplated in these bills would disproportionately affect small, retail investors vis-à-vis large investors and would undermine the effective regulations and investor protections that are fundamental principles of stable and enlarging U.S. public capital markets. “

Letters to Congress: AFR urges opposition to HR 5970 and HR 6130 in order to preserve disclosures for investors.
June 21, 2018 – 10:18 am

Americans for Financial Reform sent a letter to members of the House Committee on Financial Services urging them to reject two bills in today’s markup.

AFR in the News: SEC Seeks to Require Brokers to Put Their Clients First (NY Times)
April 27, 2018 – 9:51 am

“’The standard of conduct the agency has articulated appears ambiguous at best,’ Marcus Stanley, policy director at Americans for Financial Reform, said in a statement. ‘It doesn’t simply ban the sales quotas and other compensation practices that lead brokers to put their clients into high-fee, lower-yielding investments.’”

AFR Statement: Omnibus Contains Yet More Gifts to Wall Street
March 22, 2018 – 2:27 pm

“The Omnibus budget package contains several policy riders designed to benefit Wall Street investment funds and big banks at the expense of the public. One provision in the omnibus allows Business Development Companies (BDCs), a type of private equity fund sold directly to retail customers, to double their permitted fund leverage from the current 1-1 level (one dollar of borrowed money for each dollar of investor equity) to 2-1. BDCs are already the beneficiary of regulatory exemptions since conventional closed-end mutual funds can only leverage 1-2, or borrow one dollar per two dollars of investor equity…”

Letters to Congress: AFR Urges Opposition to HR 3978 — A Bill Harming Investors and Consumers
February 13, 2018 – 2:35 pm

AFR sent a letter urging House members to vote “No” on H.R. 3978 — a grab bag of bad legislative ideas that would weaken SEC oversight of Wall Street and undermine consumers, investors rights and protections.

Letter to Congress: AFR Opposes A Dozen Deregulatory Bills Under Consideration at a House Financial Services Committee Markup
January 17, 2018 – 10:24 am

AFR sent a letter to the House Financial Services Committee opposing a dozen bills that would deregulate banks and strip away consumer and investor protections.

Letter to Congress: Protect Shareholder Rights — Oppose HR 4015
December 18, 2017 – 4:22 pm

AFR sent a letter opposing a bill that would eliminate the independent voice of proxy advisory firms and unfairly disadvantage shareholders as compared to firm management.

Joint Statement: Consumer Advocates Blast DOL Attempt to Kill Fiduciary Rule
November 27, 2017 – 5:49 pm

“The Trump Administration’s actions prove that it is far less interested in protecting investors from the harmful effects of conflicts of interest than it is in catering to Wall Street interests… By stripping out the rule’s private enforcement mechanism, and by stating that the Department won’t enforce the rule, the DOL has rendered the rule toothless.”