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<p><span>Today, the Commission is considering adopting two final rules related to the security-based swaps markets. I am pleased to support these rules because they will enhance the integrity of the security-based swaps markets.</span></p>
The proposal aims to save time and resources for both registrants and the SEC.
<p><span>Today, the Commission is considering a proposal on cybersecurity practices for broker-dealers, clearinghouses, and other market entities. I am pleased to support this proposal because, if adopted, it would set standards for these market entities’ cybersecurity practices.</span></p>
<p>Today, the Commission is considering whether to adopt amendments to important features of the clearing and settling process. I support this adoption because it will reduce latency, lower risk, and promote efficiency as well as greater liquidity in the markets.</p> <p> </p>
<p><span>Today, the Commission is considering whether to re-propose rules to prohibit a range of market participants that sell or sponsor asset-backed securities (ABS) from taking positions against those very products. I am pleased to support this re-proposed rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, which contributed to the 2008 financial crisis.</span></p>