The Bond Market Association says it will be replying to the Securities and Exchange Commission, the Department of the Treasury and bank regulatory agencies on the proposed guidance issued yesterday to financial institutions involved in complex structured finance activities.
“We look forward to working with our members to review the guidance issued today, and to provide the regulatory community with industry feedback on the proposed standards in this important area,” said Micah S. Green, President of the Association, in a statement issued yesterday. “Obviously financial institutions must identify and manage legal, reputational and other risks when engaging in complex financial transactions. At the same time, it is important for this regulatory process to incorporate market participants’ perspectives to ensure that standards are clearly promulgated, consistently interpreted and enforced, and advance the goal of promoting fair, efficient and competitive financial markets.”
The Bond Market Association, with offices in New York, Washington, D.C. and London, represents securities firms and banks that underwrite trade and sell debt securities and other financial products globally.