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Chairman's Letter - June 2017

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In the Good Old Summertime - Published 1902; Music by George Evans/Lyrics by Ren Shields “In the Good Old Summertime” is an American Tin Pan Alley song first published in 1902. It was one of the biggest hits of that era, going on to appear in many films including the 1949 film of the same name starring Judy Garland and a Mickey Mouse cartoon, circa 1930. The song was featured in the opening paragraphs of the book Elmer Gantry. “In the Good Old Summertime” has been recorded by The Andrew Sisters (1949); Les Paul & Mary Ford (1952); Bing Crosby (1954) and Connie Francis (1961), as well as the John Phillip Sousa Band (1903) and Nate King Cole (1963). Here in Chicago, the good old summertime has finally arrived. This summer there is much for the NIBA to do. On July 20, we hold our 4th joint symposium with DePaul University on their downtown campus. This mid-summer event has become an annual tradition for NIBA members, focusing on managed accounts/funds, and marketing. This year’s keynote speaker is John Lothian, Executive Chairman, John J. Lothian & Co., Inc., and Publisher of of John Lothian News. John will share his insight into anticipated changes in the industry and to regulation due to the administration personnel and philosophy changes. NIBA will be rolling out some changes to our website and announcing new membership benefits by mid-summer. One current benefit, our Resources section, has grown significantly over the past months to include business guides, as well as white-papers and reports contributed by industry experts. Also during the summer, NIBA will be co-operating with groups such as the NFA and CMC to gather information in order to respond to the KISS request from the CFTC. The KISS Project is an agency-wide internal review of CFTC rules, regulations and practices to identify the areas which can be simplified to make them less burdensome and less costly. The CFTC, under Acting Chairman Chris Giancarlo has asked members of the industry to help identify existing rules which could be subject to this reform and suggest ways they could be applied that are simpler to understand and follow. Suggestions will be reviewed by the CFTC with the goal of reducing regulatory burden and costs for all participants in the markets. NIBA is pleased to be participating in this review. Let me know if you have suggestions. Best, Melinda Melinda Schramm, Founder & Chairman melinda@futuresrep.com

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