The Securities Industry and Financial Markets Association is applauding comments from U.S. Treasury secretary Henry Paulson suggesting that it plans to make capital market competitiveness a priority.

Paulson made the comments in a speech to the Economic Club of New York. In response, SIFMA co-CEO, Micah Green, said, “SIFMA congratulates Secretary Paulson for making improved efficiency in U.S. capital markets a top priority for the Bush Administration.”

“As the Secretary noted in his remarks, the development of a global competitive capital market system is a positive. At the same time, maintaining deep, vibrant and liquid U.S. markets will help reduce the cost of capital everywhere,” Green added.

“In order for the U.S. markets to continue to be an efficient and effective place to raise capital, the U.S. regulatory regime will need to achieve an appropriate balance between efficient regulation and elimination of unnecessary barriers to competitiveness and innovation,” Green concluded.”