At this conference, we will assess whether high frequency trading (HFT) has been good or bad for the securities markets and investors.

With the recent publication of its final rule, the federal government's Financial Stability Oversight Council is now in position to designate certain nonbank firms as "systemically important financial institutions" (SIFIs). There is probably no aspect of the Dodd-Frank Act that will have more damaging effects on competition in the U.S. financial system.

In the current debate about reform of the housing finance market, proponents of a continuing government role frequently argue that without government backing, the so-called "to be announced" (TBA) market could not exist. But that's simply not true.

Beyond the Securities and Exchange Commission's oversight failures in the cases of Enron and WorldCom, the Commission's addiction to press coverage has led it to emphasize enforcement activities above all else.

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

A federal mandate requires states to give an individual income tax exemption for interest income from Treasury and some other federal obligations, but that exemption should be repealed, allowing market forces to shape the allocation of Treasury securities across investors.

It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.

The Federal Reserve has recently begun discussing strategies for reducing its approximately $1.2 trillion of Mortgage Backed Securities (MBS) acquired from Freddie Mac, Fannie Mae and Ginnie Mae during the financial crisis.