TBMA, SIA Plan Merger

The boards of The Bond Market Association and the Securities Industry Association have endorsed the concept of merging the two associations into a new entity that "will more effectively represent the member companies and industry while enhancing the public's trust and confidence in the markets."The two associations' boards said in a joint statement that "once the organizational details are decided" they plan to vote on the merger by June 30 and then bring the matter to their full memberships for a vote. "The combined organization is intended to meet the needs of the member financial services firms in their roles as broker dealers, investment advisers, and asset managers, as well as representing the interests of private client and institutional investors," the groups said.