On March 24th, 2015, DTCC President and CEO, Michael Bodson, spoke at the DTCC Client Forum 2015.
"Our industry is still struggling as a result of a challenging, complex and increasingly costly regulatory environment as well as economic headwinds that are hampering the ability of many firms to grow.
However, I believe there may be an even more troubling issue facing the industry – the deep cynicism and skepticism the public feels toward financial services. This lack of trust in our industry has the potential to be more damaging than any regulation or economic trend.
Given this backdrop, there are three topics I’d like to discuss. The first is the trust deficit our industry currently faces and how we can go about restoring trust in financial markets and institutions. Second, the unique role financial market infrastructures can play in this effort, and third, how enhancing transparency and increasing resiliency will strengthen the financial system and, therefore, help restore public confidence in financial services."