SIFMA Executives Urge SEC to Engage in More Methodical and Systematic Approach to Regulation

In a blog post, SIFMA executives criticized the SEC for a "ready, fire, aim" approach to regulation.

SIFMA executives from the Office of General Counsel, the Capital Markets Group and the Financial Services Forum argued that changes to financial rules "must be approached methodically and systematically." To facilitate that process, SIFMA argues that (i) "[SEC] proposals should be subject to reasonable comment periods" and (ii) sufficient time must be allowed for new rules to mature before introducing additional changes to financial markets. Underscoring the need to take a more deliberate approach to rulemaking, SIFMA highlighted current drivers of market uncertainty, including (i) "working our way through the pandemic" and (ii) 40-year-high rates of inflation. SIFMA noted that "regulators should ensure that they successfully steward the capital markets that have been such a source of strength and resiliency through these highly uncertain times."