Washington, D.C. and London, June 13, 2014 – SIFMA President and CEO Kenneth E. Bentsen, Jr. and AFME CEO Simon Lewis today issued the following statement in response to remarks by Michel Barnier, European Commissioner for Internal Market and Services, at the Peterson Institute for International Economics regarding developments in US-EU financial services and a Transatlantic Trade and Investment Partnership (TTIP):
“SIFMA and AFME believe it is imperative that financial services regulatory coordination be included as a key component of TTIP, and we commend Commissioner Barnier for his focus on this issue. A financial services regulatory framework between the US and EU would enhance coordination, reduce conflict and confusion, and improve the efficiency of regulations across borders. We urge policymakers to capitalize on this opportunity provided by TTIP to promote consistent high-quality regulatory standards in global markets and economies that are closely intertwined.”
The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. 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.
The Association for Financial Markets in Europe advocates stable, competitive and sustainable European financial markets, which support economic growth and benefit society. AFME (Association for Financial Markets in Europe) promotes fair, orderly, and efficient European wholesale capital markets and provides leadership in advancing the interests of all market participants. AFME represents a broad array of European and global participants in the wholesale financial markets. Its members comprise pan-EU and global banks as well as key regional banks, brokers, law firms, investors and other financial market participants. AFME participates in a global alliance with the Securities Industry and Financial Markets Association (SIFMA) in the US, and the Asia Securities Industry and Financial Markets Association through the GFMA (Global Financial Markets Association). For more information please visit the AFME website, www.afme.eu.