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Chris Brummer

Showing 1–4 of 4 transcripts.

  1. Milken Institute1h 2m

    Inclusive Finance: How Technology Brings Banking to the Underserved

    Chris Brummer, Chris Larson, Bill Berheit, Shamina Singh, David Thompson, Bob, David Rockefeller Jr., Stacey Worden

    Industry leaders from organizations like Safaricom, Abra, Ripple, and Western Union are leveraging mobile technology and distributed ledgers to provide financial services to the estimated 2 billion unbanked adults globally. These innovations, ranging from the "Human ATM" model to biometric identity verification, enable real-time settlements and micro-transactions that bypass traditional banking infrastructure while reducing costs for low-income populations. Although regulatory hurdles and legacy banking lobbying present significant challenges, public-private partnerships are increasingly digitizing social subsidies to combat corruption and unlock trillions of dollars in purchasing power within emerging markets.

  2. Milken Institute1h 0m

    Speed to Market: The Evolution of Trading

    Chris Brummer, Seth Marin, Jamil Nazarali, Joe Ratterman, Fred Tomczyk, Greg Toussart, Adni DePaulo

    A panel of industry leaders debated the dual impact of high-frequency trading, highlighting record-low commissions and faster execution for retail investors against the significant execution challenges and information leakage faced by institutional buyers. While participants agreed that automation and regulatory measures like Limit Up/Limit Down have improved market efficiency, they disagreed on whether the current "arms race" for speed creates a fair environment or merely favors those who can afford co-location infrastructure. The discussion underscored a fundamental tension between the benefits of price discovery for small investors and the need for new liquidity obligations to protect large-scale market participants.

  3. Milken Institute51 min

    The Future of Trading

    Bart Chilton, Terry Duffy, Jamil Nazarali, Lou Salkind, Chris Brummer

    CFTC Commissioner Bart Chilton and CME Group Chairman Terry Duffy led a panel discussing the regulatory "futurization" of swaps under Dodd-Frank and the complex role of high-frequency trading in equity and futures markets. While proponents like Citadel's Jamil Nazarali and DE Shaw's Lou Salkind argued that fragmented trading structures and algorithmic speed lower costs and increase liquidity, Chilton raised concerns regarding surveillance gaps, the profitability of proprietary traders at the expense of retail investors, and the risks of regulatory delays. The discussion highlighted the contrast between the centralized, circuit-breaker-protected futures market and the fragmented equity landscape, emphasizing the critical need for international harmonization to prevent regulatory arbitrage and maintain market stability.

  4. Milken Institute1h 0m

    Crowdfunding for Start-Ups and Small Business

    Daniel Gorfine, Chris Brummer, Candace Klein, Ben Miller, Nivi, Danae Ringelmann, Matthew Accarrino, David Rockefeller Jr., Christopher Coleman, Andet Taylor, Ian

    The Milken Institute convened a panel to analyze the transformative potential of securities crowdfunding following the 2012 JOBS Act, where experts including Daniel Gorfine, Ben Miller, and Danae Ringelmann highlighted the shift from risk-averse traditional financing to decentralized capital formation. Panelists detailed how Title II, Title III, and Reg A+ frameworks have enabled diverse models ranging from Somolend's debt-based lending to Fundrise's equity real estate projects, effectively democratizing access for non-accredited investors while leveraging algorithms to mitigate fraud. Despite uncertainties regarding pending SEC rulemaking and potential broker-dealer liability, the consensus emphasizes that robust self-regulation and community validation are essential to scaling these platforms and integrating them with traditional venture capital ecosystems.