As the chief executive of Royal Bank of Canada's U.S. wealth management business, John Taft works in Minneapolis and reports to Toronto. But now, as a leading voice of the securities industry lobby, he will be devoting much more of his time to Washington.

Taft was installed Tuesday as chairman of the Securities Industry and Financial Markets Association (SIFMA), and he represents the industry during a key year of rulemaking as regulators sort out the tasks left to them by the Dodd-Frank Act.

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