After a watershed year for legislation related to the financial services industry, 2011 will likely be a time when the ripples from those changes just begin to reach the industry, according to a SIFMA industry panel in January.
SIFMA, which typically submits 60 to 100 comment letters in a normal year to various regulators, has already put in 50 comment letters related to the six-month-old Dodd-Frank legislation, said Ken Bentsen, executive vice president of public policy and advocacy at SIFMA. "This is an undertaking that's very much like what it would have been if you did the 33 Act, the 34 Act, the Glass-Steagall Act and the 240 Acts all at the same time," he said. "This is a major undertaking for the executive branch as well as for the industry."
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