The Securities Industry and Financial Markets Association (Sifma), the US securities industry trade group, was created on November 1 2006, from the merger of the Bond Market Association and the Securities Industry Association. It aims to bring together the shared interests of hundreds of securities firms, banks and asset managers. Here Sifma's president and CEO, Timothy Ryan, reveals his regulatory frustrations to IFLR
IFLR: What areas of reform do you see as falling short?
Ryan: It's important to note where regulators have got things right. Dodd-Frank created the Financial Stability Oversight Council, (FSOC) a systemic risk regulator that Sifma had called for since the beginning of the regulatory reform process, and the law also gave us a resolution authority for non-banks that effectively ends too big to fail. Those provisions of Dodd-Frank were absolutely essential in response to the financial crisis of 2008 and have been implemented well.