SFIG Spotlight
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Reggie Imamura, Our Champion

As we were saddened to announce during ABS Vegas 2016, the industry is a much poorer place due to the passing of Reggie Imamura, after fighting illness.

He was our Champion and we would like to share with you this tribute from his family and close friends.

If you would like to honor in your own words this incredible individual and crusader for our industry, we invite you to express your condolences here.

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Thank You for Making ABS Vegas 2016 a Big Success!

Over 6,700 industry professionals registered for ABS Vegas 2016 making it indisputably the largest capital markets conference in the world. With 62 packed panels and 314 speakers, including 2 incredible keynote speakers, the educational content blended perfectly with the networking benefits. Add that to the successful launch of our social media platforms, where we saw the “ABS Vegas 2016” app attract over 1,300 active users, we at SFIG consider ABS Vegas to have been a home run.

SFIG and our partners at IMN want to thank our 165 corporate sponsors, and THANK YOU all for making this happen. See you in 2017. Same place, same time!

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SEC Piwowar: Evaluate the “Cumulative Impact” of Securitization Regulations

“The SEC needs to evaluate the cumulative impact of all these new rules on the securitization markets,” stated Commissioner Michael Piwowar during his keynote address at ABS Vegas 2016. “I am concerned that the relative costs have made ABS issuances in the private markets significantly more attractive than registered ABS offerings in the public markets…” stated Piwowar.

To read Commissioner Piwowar’s speech, please click here. To view SFIG’s testimony calling for a review of the combined effect of regulations on ABS liquidity, please click here.

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SFIG Testifies before Congress on ABS Liquidity

On February 24th, SFIG Executive Director Richard Johns testified before the House Financial Services Committee regarding the effects of Dodd-Frank and Basel requirements on ABS liquidity. Richard presented the membership’s views on liquidity in the securitization marketplace, with a focus on global regulatory issues that affect lending across all asset classes. “All of these rules, particularly when combined, pose a serious threat to securitization as a critical source of funding for the real economy,” stated Johns.

To view SFIG’s testimony, please click here. To view the webcast of the hearing, please click here.

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SFIG Submits Supplemental Regulation AB II Comment Letter to SEC

On January 12th, SFIG submitted a supplemental comment letter, kindly drafted by Morgan Lewis, to the SEC regarding asset-level information for credit card and equipment floorplan ABS, a deferred action within the final rule. This follows our June 2015 letter.

Future discussions across asset class committees and the Regulation AB II Task Force will focus on the remaining outstanding proposed rules, including disclosure for Rule 144A offerings. If you would like to participate, please contact Alyssa Acevedo.

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Trades Raise Concerns About Basel’s Proposed FRTB Rule to Congress

On November 12th, SFIG and several other trade organizations submitted a comment letter to Treasury and the Federal Reserve regarding Basel's Fundamental Review of the Trading Book (“FRTB”). The letter stresses the connection between the high capital charges the proposal would require, and a resulting reduction in market making and credit availability.

SFIG continues to educate Congress regarding the potential negative effects of the FRTB for the securitization industry. Contact Michael Flood to learn more.

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SEC Encouraged to Allow mREITs Full Participation in GSE Risk Sharing

On January 12th, a bipartisan coalition of 13 members of Congress sent a letter to SEC Chair Mary Jo White asking to begin a dialogue about addressing the regulatory hurdles preventing mortgage real-estate investment trusts (“mREITs”) from fully participating in the government-sponsored enterprise GSE credit risk transfer transactions.

SFIG appreciates the Congressional effort to work with the SEC and FHFA to create a responsible disclosure package to allow for full mREIT participation in Agency credit risk sharing transactions. Contact Michael Flood to learn more.

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SFIG is Hiring!

SFIG is seeking talent to fill these exciting new positions:

  • Data/Policy Analysts: will help support group-wide strategy efforts and initiatives as they relate to the association’s database and various policy requirements.
  • Executive/Administrative Assistant: will be responsible for supporting the Executive Director and Directors of Policy and Advocacy while performing various administrative tasks.
  • Advocacy Manager: will be an integral member of SFIG staff, being second-in-command of the association’s Advocacy department.
Membership

SFIG’s membership continues to grow in numbers and diversity. There are approximately 350 institutions representing all segments of the securitization industry contributing to our membership-driven agenda.

We encourage you to apply for membership today.

Latest Advocacy

On February 24th, SFIG Executive Director Richard Johns testified before the House Financial Services Committee regarding the effects of Dodd-Frank and Basel requirements on ABS market liquidity.

To view SFIG’s testimony, please click here. To view the webcast of the hearing, please click here.

Annual Conference

Over 6,700 industry professionals registered for ABS Vegas 2016 making it the largest capital markets conference in the world. 

SFIG & IMN Structured Finance Canada conference will take place May 31-June 1, 2016 at Hyatt Regency Toronto. Register today or contact Christopher Keeping for sponsorship information.

About SFIG

SFIG was established with the core mission of supporting a robust and liquid securitization market, recognizing that securitization is an essential source of core funding for the real economy. Under this mission, we are dedicated to:

  1. Educating members, legislators, regulators, and other constituencies about structured finance, securitization and related capital markets,
  2. Building the Broadest Possible Consensus among members on policy, legal, regulatory and other matters affecting or potentially affecting the industry
  3. Advocating with respect to policy, legal, regulatory and other matters affecting or potentially affecting the industry, and
  4. Core Principles of Governance, Financial Transparency, Inclusion and respectful accommodation of divergent member views.

We provide a representative and transparent member-driven platform for industry education and advocacy. While we are based in Washington, DC, our members’ interests extend globally.

We boast approximately 350 institutional members (and growing), including investors, issuers, and all other participants in the structured finance industry. As a member-driven organization our advocacy is committee-based, with over 50 committees and taskforces actively engaged in representing broad industry viewpoints across all aspects of the regulatory and legislative agenda.

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