SIA and BMA to merge

The creation of the new trade association, which is expected to be completed in the third quarter, will create a single body to fight the industry’s corner on legislative, regulatory and market practice issues.

SIFMA will comprise three business groups: the Capital Markets Group, the Private Client Group and the Asset Management Group.

A transitional executive committee, co-chaired by current association chairmen Edward Frost of Goldman Sachs and James Gorman of Morgan Stanley will serve as the initial governing body for SIFMA through to the end of this year.

The BMA was formed in 1976 as the Public Securities Association after a group of leading US bankers decided to defect from the SIA due to internal conflicts about its stance on the Glass-Steagall Act, which was established in 1933 – and eventually repealed in 1999 – that legally segregated banks and securities companies.
  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: