Statement from Marcus Stanley, policy director, Americans for Financial Reform: “The proposal we heard described today does not come close to measuring up. The standard of conduct the agency has articulated appears ambiguous at best. 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 sent a letter to members of the House of Representatives urging them to vote in opposition to H.R. 4263, the “Regulation A+ Improvement Act”.
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.
AFR sent a letter opposing a dozen different deregulatory bills being marked up by the House Financial Services Committee. AFR Letter Re HFSC 11-14 Markup
AFR sent an opposition letter to HR 3911, which would make currently mandatory inspections of national registered credit ratings agenices (NRSROs) such as Moody’s and Standard and Poors optional. HR 3911 Oppo letter
AFR sent an opposition letter to HR 1585 when it was being considered on the House floor. AFR HR 1585 Opposition Letter
AFR sent the letter below to the House Financial Services Committee urging them to reject nineteen deregulatory bills. AFR Letter Re HFSC 10-11 Markup
“We are seriously concerned about what Jay Clayton’s leadership will mean for investors and the economy. His longtime client, Goldman Sachs, played a central role in the devastating financial crisis of 2008 and has a long record of questionable market behavior. Clayton himself has numerous direct personal conflicts of interest.”
AFR joins 22 organizations in letter urging members of the Senate Banking Committee to oppose the nomination of Walter Joseph ‘Jay’ Clayton to serve as Chair of the Securities and Exchange Commission.
“Jay Clayton’s entire career of representing major Wall Street banks, advancing their interests at the expense of the public, helping them avoid accountability, stands in contradiction to the very mission of the agency he has been nominated to lead… Those who voted in favor of his appointment — both Democrats and Republicans –will have some explaining to do to constituents who are sick and tired of letting Wall Street continue rig the economy so all of the gains go to those at the very top.”