Welcome to the latest edition of At the Forefront: Fintech Conversations!
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In this installment, Forefront VP and Head of Content Sam Belden, sits down with Jim Toes, President and CEO of the Security Traders Association (STA), to discuss key market structure topics, regulatory developments and how STA positioned to play a key role in guiding industry conversations.
Founded in 1934, STA is a grassroots organization representing professionals in the securities industry. Through advocacy, education and networking, STA works to address issues impacting market participants and promote efficient, fair and transparent markets.
To begin, Jim provides an update on STA’s recent affiliate events, noting that attendance is up 10-15% across all conferences held this year. This growth can be attributed to several factors: engaging content, strong initiatives like STA Women in Finance (celebrating its10th anniversary this year) and the rising popularity of the Young Professionals group aimed at bringing newcomers into the industry. The affiliate events have covered a wide array of pressing topics at new venues, and the ability to draw diverse industry participants from across the nation continues to be a hallmark of STA’s success.
Jim also speaks to the shift in the issues discussed at STA’s events. For the first time, topics like 24/7 trading, short-dated options and the evolution of ETFs are being addressed across multiple sectors. Jim notes that, opposed to discussing issues affecting only one segment of the market, much of the topics discussed today often have a ripple effect across the capital markets, making them more engaging for a wider audience. As markets grow increasingly complex, STA’s work at the intersection of these issues is helping to guide industry-wide discussions.
Next, the pair discussed the nomination of Paul Atkins for SEC Chair. Jim provided insight into the ongoing Senate Banking Committee hearings, which were informative in shaping the direction of future SEC regulatory priorities. Jim explained the contrasting regulatory philosophies between the incoming administration’s disclosure-based approach, which differs from Gensler’s merit-based approach.
Jim also highlighted key areas where STA plans to engage with the SEC, such as cryptocurrency regulation, the Consolidated Audit Trail (CAT), and capital formation. He noted that under the new SEC leadership, the focus on disclosure and investor transparency, rather than heavy-handed regulation, could lead to significant changes in how securities are managed and traded.
Looking forward to the STA 92nd Annual Market Structure Conference in Washington, DC, Jim shared his excitement for the event and the upcoming topics. The conference, which will take place in October, will feature discussions on pressing issues facing market participants. Jim anticipates it will attract a record number of attendees, and views this as a vital opportunity for the industry to come together and discuss how to address the evolving regulatory landscape – especially in light of the expected shifts in SEC policy.
As Jim emphasized, with the SEC poised to make significant regulatory moves under Paul Atkins, STA is ready to engage and provide insights on issues that will affect institutions, regulators and market participants alike.
To learn about STA’s ongoing work and learn about their upcoming events at both the national and affiliate level, visit their website.
See below for a breakdown of what was discussed. Happy listening!
Timestamps:
1:28 – Recap of STA’s Q1 affiliate events
3:14 – The top market structure themes at recent STA conferences
4:47 – The appointment of Paul Atkins to SEC Chair
7:10 – The top priorities for the Atkins-led SEC and where STA fits into these conversations
10:02 – STA’s 92nd Annual Market Structure Conference in Washington, D.C.
