The International Capital Market Association (ICMA), The American Council of Life Insurers (ACLI), The Credit Roundtable (CRT), the Investment Company Institute (ICI), the Institute of International Finance (IIF), the Life Insurance Council of New York (LICONY), the Partnership for New York City (PFNYC), and the Securities Industry and Financial Markets Association (SIFMA) have signed a letter strongly opposing the Sovereign Debt Stability Act (S.5542-A / A. 2970-A), recently amended in New York State.
ICMA and co-signers believe that, if passed by the New York legislature and signed into law, this bill would have negative, wide-ranging, and unintended consequences for global markets. Further, it would harm the developing economies it aims to help, in pursuit of fixing a specific problem that has already been addressed.
Read the open letter here.
Source: ICME
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
https://www.marketsmedia.com/as-technology-evolves-asset-managers-adapt-and-innovate/
Citi Changes Organizational Structure
https://www.marketsmedia.com/citi-changes-organizational-structure/
SEC Charges Virtu for Disclosures Relating to Information Barriers
https://www.marketsmedia.com/sec-charges-virtu-for-disclosures-relating-to-information-barriers/
ICE Futures Singapore Partners with CoinDesk Indices
https://www.marketsmedia.com/ice-futures-singapore-partners-with-coindesk-indices/
Related articles
-
Citi, HSBC, Morgan Stanley and Royal Bank of Canada will pay the CMA.
-
The growth of bond ETFs is leading to opportunities for indexing across fixed income.
-
Use of the corporate bond sweeps protocol has grown and the liquidity network has expanded.
-
Several legal, operational and capital issues crucial to implementation need to be resolved.
-
Central clearing of eligible cash Treasury trades will be required by the end of 2025.