Policy Positions
Investment Adviser Regulation
Citadel believes that investors play an essential and beneficial role in financial markets, engaging in fundamental research and enhancing price discovery and market efficiency. Citadel supports thoughtful regulatory oversight of investment advisers that recognizes the critical role active managers play identifying both under-valued and over-valued assets. By contrast, policies that compromise active managers’ ability to implement their investment theses will cause prices to deviate from their fundamental value and capital to be misallocated, to the detriment of all investors and the broader economy.
Aug 11 2023
Comment Letter to SEC on Safeguarding RuleJune 7 2022
Comment Letter to SEC on Dealer RuleU.S. Treasuries
Citadel supports efforts to modernize the regulatory framework for the US Treasury markets, including the introduction of real-time public reporting, the registration of multilateral trading venues, non-discriminatory access to trading venues, and the expansion of repo clearing. Consistent with our longstanding commitment to more fair and efficient markets, we believe these changes will enhance transparency and resiliency in the US Treasury market and provide Treasury market participants with greater choice among trading venues and counterparties.
OTC Derivatives
Citadel is a firm supporter of the G-20 reforms to the OTC derivatives markets, including the central clearing and trading requirements. These reforms have already begun and will continue to reduce interconnectedness and systemic risk, improve pre- and post-trade transparency, and foster an open, level, competitive playing field.
Mar 15 2019
Citadel Response to the SEF Rule ProposalApr 23 2018
Citadel Letter to ESMA on TRV ReportSep 30 2017
Comment Letter to the CFTC on Project KISSMar 7 2016
Comment Letter to the CFTC on Data QualityOther Financial Regulatory Policy Positions
Citadel believes in thoughtful, data-driven, policymaking across a broad array of topics.
Sep 30 2017
Comment Letter to the CFTC on Project KISSForeign Exchange
Citadel supports the FX Global Code’s objectives of promoting a robust, fair, liquid, open, and appropriately transparent foreign exchange market, and believes that realizing these objectives requires a transition to fully firm pricing and the elimination of “last look” practices.