This week our Benjamin Schiffrin took part in The Institute for the Fiduciary Standard's panel on #RegBI with Robert J. Jackson, Jr., Phyllis Borzi, Joseph Peiffer, and Knut A Rostad, MBA . Ben discussed many topics including digital engagement practices and the way the #AI and #gamification are being used in legalized sports gambling. He noted that when these technologies are applied to investing, "it could induce investors to keep trading" when it's not in their best interests. Watch the webinar here: https://lnkd.in/em5jEM-D
Better Markets
Non-profit Organizations
Washington, District of Columbia 1,955 followers
An Independent, nonpartisan, nonprofit promoting the economic security, opportunity & prosperity of the American people.
About us
Better Markets is a non-profit, non-partisan, and independent organization working to build a more secure financial system for all Americans. Better Markets works to rebuild those protections by restoring laws, rules and regulations that shield families on Main Street from the high-risk, dangerous activities on Wall Street. Our team of professionals - including President and Chief Executive Officer Dennis Kelleher and markets, regulatory and legislative specialists, along with lawyers and communicators – is the counterweight to Wall Street’s special interests in Washington DC. When Wall Street is pushing those special interests, they run right into Better Markets, which is right there pushing back with the public interest. We’re the American people’s voice in the courts, the Congress and the regulatory agencies, fighting against Wall Street recklessness while fighting for reform. Our agenda-setting analysis provides a critical balance in the rulemaking and policymaking debates, and our expert research has made Better Markets the go-to source for trusted and substantive information about our financial markets, economic policy and key policy proposals. Over the last five years, Better Markets has had a significant impact on financial reform – from re-shaping the political discourse to strengthening many parts of the Dodd-Frank rule making process. We’ve become a potent counterweight to the industry as the rules of financial reform are being drafted and challenged, filing nearly 200 comment letters so that agencies finalize the strongest possible safeguards to protect the American people from another financial crash.
- Website
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http://www.bettermarkets.org
External link for Better Markets
- Industry
- Non-profit Organizations
- Company size
- 11-50 employees
- Headquarters
- Washington, District of Columbia
- Type
- Nonprofit
- Founded
- 2010
- Specialties
- Financial Regulation, Financial Reform, Dodd-Frank, SEC, CFTC, CFPB, Rulemaking, Policy, Wall Street, Main Street, Economy, and Finance
Locations
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Primary
1825 K Street NW
Washington, District of Columbia 20006, US
Employees at Better Markets
Updates
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Today, Donald Trump will speak at and hold an $844,000 a seat fundraiser at the #Bitcoin Conference in Nashville. WATCH Dennis Kelleher tell BBC News what the #crypto industry wants for it's money. https://lnkd.in/d_c24QJX
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The practice of forum shopping and the extreme 5th circuit continue to wreak havoc on our legal system. Our Director of Securities Policy Benjamin Schiffrin explains how the financial industry is using this tactic and venue to gut financial protection rules meant to protect Main Street. https://lnkd.in/e5TA6H7W
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Hannah Lang, Stephanie Kelly, & Suzanne McGee of Reuters write on Republicans courting the #crypto industry at the #BitcoinConference in Nashville this week. Dennis Kelleher says in the story “It's pretty clear what the industry wants is to buy as many politicians as possible to hijack the agenda of the American people and put their special interests on the top." https://lnkd.in/eArHbxpZ
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The #crypto industry has been fighting in every available arena to avoid being regulated by the U.S. Securities and Exchange Commission, which is known to be a tough and effective cop on the financial beat. For years now, the #SEC has aggressively protected investors and markets from the predators and crooks in the crypto industry. In our new report by Benjamin Schiffrin, we explain why crypto should be regulated by the #SEC under the #Howey Test to protect investors. https://lnkd.in/dajs7s6w
Crypto Should Be Regulated by the SEC under the Howey Test to Protect Investors and Enforce the Securities Laws | Better Markets
bettermarkets.org
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Dennis Kelleher tells BBC News' Erin Delmore that"the #crypto industry is doing whatever it has to do to buy political friends so that they will prioritize crypto's interests and not the interests of the American people...Crypto should be heavily regulated and prosecuted, and instead, what we have is the industry firing a money cannon to buy politicians to prevent that from happening." https://lnkd.in/d_c24QJX
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Cato Institute's Mark Calabria, Mercatus Center at George Mason University's Thomas Hoenig, The Brookings Institution's Aaron Klein, and our Dennis Kelleher have spent decades arguing with each other on important policy issues. But in a POLITICO op-ed there’s one thing they do agree on-the government must stop bailing out private investors. https://lnkd.in/dXDdPKq7
Opinion | Why Is the Government Encouraging a Taxpayer Bailout?
politico.com
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Under the law, Congress intended the banking agencies to deny mergers that “in any respects” fail to meet public interest objectives concerning convenience and needs, managerial resources and future prospects, and financial stability. There is no question that the Capital One Discover Financial Services proposed merger fails all three considerations and amply justifies, if not mandates, regulators to deny it. Learn more in our new comment letter: https://lnkd.in/ekwzYBTJ
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$844,600. That's how much Trump is charging to attend a fundraiser at the #Bitcoin Conference this week. All concerned citizens should ask what the #crypto industry wants for its money. https://lnkd.in/d_c24QJX
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Make sure to register for The Institute for the Fiduciary Standard's panel on Reg BI this morning. Our Benjamin Schiffrin will take part in this important conversation on protecting investors and ensuring advisers act in the best interests of their clients. Register here: https://lnkd.in/gVjyR6FS
Don't miss this tomorrow! The Institute for the Fiduciary Standard will hold an important briefing to assess the state of the SEC’s Reg BI five years after its release June 5, 2019. The 90-minute briefing will be held virtually on July 24, 2024, 10:30 am – 12:00 pm ET. Robert J. Jackson, Jr. will share his thoughts on Reg BI going forward. Commissioner Jackson will be joined by Joseph Peiffer (Public Investors Advocate Bar Association (PIABA) @PIABANews), Benjamin Schiffrin (Better Markets), and Knut A Rostad, MBA (Institute for the Fiduciary Standard). Phyllis Borzi, Assistant Secretary for @Employee Benefits Security, Department of Labor, who served from 2009-2017 in this role, will moderate the panel. This is the first briefing on the controversial Reg BI, at five years old, that is open to the media with leading experts who favor a real best interest standard. “Reg BI was launched in 2019 with great fanfare as a historic win for retail investors,” said Knut Rostad, President of the Institute for the Fiduciary Standard. “The celebration was premature. Research shows that under Reg BI a real best interest standard is still elusive.” What: Briefing on the State of Reg BI at five years old When: Wednesday, July 24, 2024 from 10:30 AM – 12:00 PM ET Register: https://lnkd.in/gVjyR6FS