In advance of the House Financial Services Committee’s May 24th markup, CFA wrote in opposition to several bills expected to be considered. These bills, if enacted, would:
- expose public school teachers saving for retirement to harmful, sales-driven conflicts of interest and the risk of unrecoverable losses,
- increase the amount of risky, costly, illiquid, and opaque private funds that are sold to retail investors, and
- undermine the SEC’s and state regulators’ ability to oversee and police private securities markets.
The committee’s ongoing deregulatory agenda, as further demonstrated by the proposals expected to be included in the markup, would expose retirement savers and other investors to dire and untenable risks, would further diminish market transparency, efficiency, and accountability, and would continue to expand risky, opaque private markets at the expense of our public markets.