New rules for short-term funding markets are likely coming in response to the pandemic-fueled turmoil that hit Wall Street trading desks in March, according to U.S. Securities & Exchange Commission (SEC) Chairman Jay Clayton.
Speaking in a Wednesday Bloomberg Television interview, Clayton said the regulations would be a collaboration among the SEC, the Federal Reserve, and other agencies. The changes would also reflect the differences among various financial instruments, including Treasuries, municipal bonds, and money-market mutual funds, he added.
"I expect that reforms will be coming," Clayton told Bloomberg's David Westin. "I also expect that those reforms will not only be the result of domestic consultation led by the SEC, the Fed, and the others, but also international consultation."
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
