On July 23, 2019, AFR Education Fund submitted a letter to the U.S. Securities and Exchange Commission (SEC) opposing a proposal that would create exemptions that would permit U.S. banks – and international banks active in the U.S. market – to do large-scale derivatives dealing in the U.S. without being designated as derivatives dealers under Dodd-Frank Act rules.
Click here to download a PDF version of the letter.
Americans for Financial Reform Education Fund sent a letter to the SEC regarding proposed amendments to the Commission’s Whistleblower Program rules. While we generally support a few of the proposed amendments, we are concerned that a number other proposed changes would initially undermine the Whistleblower Program and ultimately weaken the SEC ability to discover fraud, […]
AFR commented on the roll back of transparency disclosures to investors in the SEC proposed rule “Investment Company Liquidity Disclosures.”
AFR joined with the AFL-CIO in calling on the Securities and Exchange Commission to revise its proposed rule so that “any changes to the Commission’s disclosure rules do not narrow the scope of information that is provided to investors.”
AFR wrote to the SEC to urge them to vigorously investigate what appear to be ongoing, widespread violations of securities law by private equity advisers.
AFR and five other consumer advocacy organizations, sent a letter to SEC Chair Mary Jo White detailing key investor protections that the SEC has failed to take, and urging Chair White to act on them.
AFR and 9 other organizations sent a letter to Chair Mary Jo White expressing concern over the exclusion of Professor Joseph Stiglitz from the SEC Market Structure Advisory Committee. The letter urges the SEC to reconsider, or to provide more detail regarding how it arrived to its decision.
“On behalf of Americans for Financial Reform (AFR), we write today to ask you to ensure appropriate regulatory oversight of derivatives transactions conducted through foreign subsidiaries of multinational Wall Street banks. In particular, we urge you to prevent the inappropriate classification of such derivatives as ‘non-guaranteed’ by the parent company, a classification which could exempt them from numerous critical derivatives regulations.”
AFR called on the Securities and Exchange Commission to require the release of loan-level data for asset backed securities, which include the ‘toxic assets’ central to the financial crisis. The AFR comment includes a discussion of privacy controls.