FINANCIAL SERVICES FORUM for FINANCIAL SERVICES FORUM
What was lobbied
6 issue areas, each in the filer's own words, with who lobbied on it and where.
Trade (domestic/foreign) TRD
China - The Forum supports economic engagement with China to promote the liberalization of China's financial markets. Economic Engagement, Trade and Exports - The Forum supports promoting economic growth through international engagement, trade and exports. The Forum supports renewal of the President's Trade Promotion Authority and rapid passage of the 3 existing FTA's to ensure the U.S. remains an active participant in the global economy. FTA's for Panama, Colombia, and Korea. The Forum does not support legislative efforts to pressure China to accelerate the appreciation of its currency. The Forum believes this is not productive and could damage U.S. interests with a key economic partner. The Forum supports policies that aim to strengthen the resilience of the financial services sector, as promulgated by G-20. The Forum is concerned about the unintended consequences of the regulatory treatment of trade finance instruments under the Basel framework.
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Financial Institutions/Investments/Securities FIN
Financial Regulatory Reform and Modernization - The Forum supports reform and modernization of the financial regulatory system to ensure the safety and soundness of financial institutions, promote financial systemic stability, and protect the varied interests of depositors, consumers, and investors. The "Wall Street Reform and Consumer Protection Act" - The Forum supports financial regulatory reform that: 1) establishes resolution authority to end "too-big-to-fail"; 2) enhances consumer protections; 3) regulates over-the-counter derivatives; and, 4) provides for "systemic supervision" of the U.S. financial system. The Forum opposes legislation to preemptively dismantle or limit the activities of well-capitalized and well-managed financial institutions, haircuts on secured creditors to financial institutions in the course of a resolution, and punitive taxes or levies on financial institutions. Derivatives are important tools that enable companies to minimize and manage their exposure to a wide range of risks, thereby freeing up vital capital for other uses. The Forum maintains that financial derivatives should be subject to prudential supervision and supports the establishment of a systemic risk supervisor to monitor, assess and address systemic risk, in continuous interaction with functional regulators to address any threats to the financial system, including in the derivatives markets. The Forum is actively engaged with the various financial regulators to ensure the effective implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Forum requested for Comment Deadline Extension on Volcker Rule Proposed Regulations. Capital Requirements -- The Forum supports regulatory capital requirements that ensure safety, soundness, and systemic stability while not undermining lending that stimulates economic growth and job creation. The Forum is actively engaged with financial regulators to ensure the effective implementation of the Basel III capital and liquidity framework. Capital Market Competitiveness -- The Forum supports the free flow of capital and open and competitive U.S. markets. The Forum also supports maintaining the United States as an attractive place for investment and a continued leader in the global economy.
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Taxation/Internal Revenue Code TAX
Tax Policy - The Forum supports tax policy that keeps the U.S. economy open to create jobs, and attract foreign investment. The Forum believes that imposing taxes and fees on the financial sector will restrict the availability of credit, increase the tax burden on investors and impede the ability of the financial sector to create jobs. S. 722, the "Taxpayer Certainty and Relief Act" - The Forum supports strengthening the economy through policies that foster private savings and capital investment. The Forum supports maintaining the existing tax rates on dividends and capital gains. The Forum opposes onerous fees and taxes imposed on large financial institutions that will undermine economic growth by impairing the ability of financial institutions to extend credit to individuals and businesses.
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Small Business SMB
The Financial Services Forum supports policies that enhance the circumstances for new business formation and survival by reducing regulatory burden and policies that provide access to capital and credit for new and small businesses. S. 1835 United States Covered Bond Act of 2011, S. 1831 The Access to Capital Job Creators Act, S. 1791 The Democratizing Access to Capital Act, S. 1824 The Private Company Flexibility and Growth Act H.R. 2930 Entrepreneur Access to Capital Act, H.R. 2940 Access to Capital for Job Creators Act, H.R. 2167 Private Company Flexibility and Growth Act, H.R. 1965 To amend the securities laws to establish certain thresholds for shareholder registration
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Budget/Appropriations BUD
S.AMDT.501 to S.679 - DeMint Amendment. The Financial Services Forum supports the United States engagement in the global economy through approved international bodies like the IMF. The Financial Services Forum believes it would be in the best interest of the capital markets for the U.S. to honor its obligations made as a part of those bodies and opposes measures to rescind committments made for the stability of international markets.
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Government Issues GOV
S. 365, "Budget Control Act of 2011", The Forum feels strongly that Congress should work together to enable the U.S. to be able to meet all its financial obligations on time to ensure global confidence in our markets, currency, and political process. The Forum believes the downsides of U.S. default could cause undesirable ripple effects to the global economy. The Forum supported H.R. 3010, the Regulatory Accountability Act of 2011, would modernize and update the 65-year old regulatory process, and improve how federal agencies promulgate regulations with the most significant affects on jobs and economic growth.
| Lobbyist | Covered position, as disclosed |
|---|---|
| JOHN DEARIE | — |
| COURTNEY GEDULDIG | — |
| ROBERT NICHOLS | — |
Shown as published by the Senate Office of Public Records and the House Clerk under the Lobbying Disclosure Act. The official filing is the record; open it for the full form.