The head of SIFMA said he was looking forward to working with President Barack Obama on the ongoing implementation of financial reform legislation following Obama's re-election.
The financial services industry has been highly critical of the Dodd-Frank financial reform law but at SIFMA's annual meeting recently, the group's president and chief executive officer Tim Ryan said that SIFMA has never supported the repeal of the law. But many in the financial services industry have expressed disappointment with the sluggish pace of rulemaking stemming from the law as well as the potential for much higher costs for firms as a result of greater regulation. Many rulemaking deadlines have been missed.
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