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Head of Regulatory Intelligence
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New York City, New York,10005
BBH is a privately held financial institution that has been a thought leader and solutions provider for nearly 200 years. The firm serves individuals, families, businesses and institutions in its three business lines: Private Banking, Investment Management and... more.
Senior Business Anaylst
Hong Kong & UCITS: A Challenge to the Status Quo - FundForum Live
Sean Tuffy is head of regulatory intelligence at Brown Brothers Harriman, based in Dublin, Ireland, and also authors a blog on global fund management regulation. Delegates from BBH will be attending FundForum International next week. Sean Tuffy
Sean M. Tuffy
Senior Vice President, Head of Regulatory Intelligence Brown Brothers Harriman Sean M. Tuffy is a Senior Vice President, and Head of Regulatory Intelligence at Brown Brothers Harriman. He is based in Dublin, Ireland. Sean has 15 years of experience in the cross-border fund industry. He joined BBH in 2006, prior to which he worked at State Street Corporation in Boston and Dublin. Sean participates actively in industry groups, including the Irish Funds Industry Association, International Securities Lending Association and the Association of Global Custodians. His insights on global financial regulations are sought after, and he frequently presents them at conferences and in publications. Sean has a BS degree in business administration from Mary Washington College.
Difficulties facing Trump in Wall Street deregulation - Business Insider
Sean Tuffy, head of regulatory intelligence at Brown Brothers Harriman, has gone through a useful mental exercise that helps shed some light on what might happen - and what might not.
In particular, Tuffy is skeptical that deregulation will simply sail through Congress given popular discontent with big banks and the fact that Trump himself ran for office on an anti-Wall Street platform. Now that he is being advised by several former Goldman Sachs bankers, some have assumed the president will simply axe the existing legislation. But as Tuffy notes, it's not that easy. "Clearly there will be an attempt to reform elements of Dodd Frank," he says. "However, the Republicans don't have a supermajority. Any substantive change will require cooperation from the Democrats. We can expect any attempt to repeal key elements of Dodd Frank to be met with stiff resistance." In addition, says Tuffy, "the Trump administration needs to walk a tightrope on financial regulatory reform because anything seen as a giveaway to Wall Street could spark voter discontent.
Brexit: Britain's Bankers Are Losing Hope of Keeping EU Access | Fortune.com
"The trouble is that equivalence exists more in theory than in practice," says Sean Tuffy, head of regulatory issues at Brown Brothers Harriman in Dublin.
He points out that the principle won't really be tested until new EU laws on financial markets and products (known as MIFID 2), come into force in 2018.
Sean Tuffy,head of regulatory intelligence at Brown Brothers Harriman in Dublin, said in a blog: "The inclusion of ETFs in the Shenzhen-Hong Kong Stock Connect opens up another route to mainland China investors, which is sort of an El Dorado for asset managers."
Tuffy cited regulators who have said ETFs will be included in the Shenzhen-Hong Kong Stock Connect after it "has been in operation for a period of time and upon the satisfaction of relevant conditions". "If the program does move forward, it could be a great way for asset managers to access investors in mainland China and should expand the range of investment opportunities for mainland investors beyond the 200 ETFs that are currently available in Hong Kong," added Tuffy. Tuffy said in an email to Markets Media: "The Hong Kong/Switzerland deal is important because it is the clearest signal yet of Hong Kong's intent to become a major cross-border fund domicile.