Financial industry trade groups retrench, brace for change
- November 6, 2008 |
- CEO Update
More restrictive regulations loom as SIFMA announces substantial staff layoffs and Mortgage Bankers Association retools its national lobbying force. By Joseph Enoch The distress on Wall Street is becoming more and more evident in Washington, D.C.s associations as financial trade groups cut staff, reallocate lobbying resources and prepare for a web of industry regulations theyve fought hard to scale back. This trend is particularly evident within the financial sector. Witness the Securities Industry and Financial Markets Association (SIFMA) and the Mortgage Bankers Association (MBA). Last week SIFMA laid off 40 employees, roughly 20 percent of its staff, amid turmoil in… Read More