The Securities Industry and Financial Markets Association (SIFMA) today released a statement from President and CEO Timothy Ryan in response to the Federal Reserve Board’s proposals to regulate compensation policies at the financial institutions they oversee.
“These proposed rules will likely affect compensation for hundreds if not thousands of professionals working in our industry. We appreciate the Federal Reserve addressing the regulation of compensation policies through a standard rulemaking process, allowing market participants and interested parties to provide substantive comments to their proposal.
“Ensuring pay is tied to sufficient risk management, long-term performance and shareholder interests are goals we share, and are reflected in the industry's Guidelines for Compensation that we released this summer. We look forward to working with the Federal Reserve as this regulatory process moves forward."