DEFINITION of 'Financial Services Roundtable'
The Financial Services Roundtable represents 100 of the largest integrated financial services companies which provide banking, insurance and investment products and services to American consumers.
The stated goals of the Financial Services Roundtable are to:
- Be the premier executive forum for the leaders of the financial services industry
- Provide powerful legislative and regulatory advocacy
- Enhance the industry's public reputation
- Promote best practices and a strong infrastructure in technology
The Roundtable believes that financial services companies are integral to the nation's economy and that the competitive marketplace, not government, should largely govern the delivery of financial products and services. It underscores the necessity of uniform national standards across state lines and the effective use of technology to efficiently deliver financial products and services.
BREAKING DOWN 'Financial Services Roundtable'
The Financial Services Roundtable as it is currently known was formed in early 2000 when the first members from the securities, investment and insurance sectors joined their banking industry counterparts (who had formerly been assembled as the Bankers Roundtable) as founding members of the Financial Services Roundtable. The Bankers Roundtable chose to expand its mission in April 1999 to represent integrated financial services firms in response to industry shifts and congressional financial modernization legislation.
The Bankers Roundtable was originally formed in October 1993 as a result of the merger of the Association of Registered Bank Holding Companies (formed in 1958) and the Association of Reserve City Bankers (formed in 1912).