SIFMA TARP Conference

On Monday, November 10, SIFMA hosted a day-long summit on the Troubled Asset Relief Program. Key speakers included Interim Assistant Secretary of the Treasury Neel Kashkari and Senator Charles Schumer.

Senator Charles Schumer

Comments focused on the need for, and the plans of, the new administration and Congress to restructure financial regulation, based on the following six principles:

• Focus on controlling systemic risk and ensuring stability;

• Unify and simplify regulatory structure (recommended following the UK model - a single strong regulator with broad authority);

• Regulate currently unregulated parts of the markets (examples included both exotic products and credit default swaps);