The Securities Industry and Financial Markets Association (SIFMA) praised the G-8 Summit Finance Ministers for their focus on issues important to the global economy, and financial services, specifically.
“We applaud the G-8’s focus on current issues in the credit and securitisation markets, which will help drive the global agenda and ensure that market participants in the sector return to a more robust, more transparent and more liquid environment. SIFMA and its EU and US affiliates, the ESF and ASF, are actively developing initiatives that will be complimentary to the G-8 recommendations,” says Bertrand Huet, managing director, and SIFMA’s European legal & regulatory counsel.
“The G-8 continues to put its weight behind some of the most important global business issues of our day. Their focus on mutual recognition acknowledges the pressing need for practical reforms to address regulatory obstacles to the efficient delivery of cross-border services by securities firms. Their efforts to achieve a successful and commercially meaningful Doha Round are equally appreciated, given the important standards that are set for financial services and capital markets sectors within that framework,” adds David Strongin, managing director of SIFMA.