After parting ways with the after the American Securitization Forum (ASF), the Securities Industry and Financial Markets Association (SIFMA) said it plans to start its own unit to work on improving asset securitizations.
SIFMA, according to published reports, formed its own securitization group after the ASF announced it had ended its eight-year affiliation with the securities association yesterday, said Tim Ryan, SIFMA's chief executive, in a letter to members.
The new group will expand SIFMA's work on behalf of dealers, investors and other players in securitization, according to Ryan.
"The SIFMA board of directors has determined that it is in the best interest of our membership to maintain an integrated advocacy platform for financial markets, including securitized products, which are critically important to our industry," Ryan said in the letter.
