SIFMA's 2019 Annual Meeting, The Capital Markets Conference, gathered in our nation's capital this week for candid one-on-one conversations, expert panel discussions and in-depth breakout sessions with senior executives and the foremost policymakers, regulators and financial market experts. Continue scrolling for the highlights.

From the floor of the SIFMA Annual Meeting, SIFMA President and CEO Kenneth E. Bentsen, Jr. sat down with Bloomberg TV's David Westin to discuss some of the most important issues in capital markets.

Securities and Exchange Commission Chairman Jay Clayton sat down with Bloomberg TV's David Westin to discuss the recent changes in financial markets toward private capital and investing in companies overseas as well as the impact that these issues have on US regulation.

In an interview with Bloomberg TV's David Westin, Securities and Exchange Commission Chairman Jay Clayton discusses capital shifts and investing in Chinese companies, and he calls the US "far superior" in terms of market regulation.

Mark Mobius of Mobius Capital Partners said during the SIFMA Annual Meeting that central banks' monetary policy is posing difficulty for determining the value of equities and other assets. "With free money, how do you measure it?" he said.

Charles Schwab's Lisa Kidd Hunt moderated a panel of former regulators on the imposition of regulation by prudential agencies on the capital markets, its restrictions and its relationship to market regulators.

SIFMA President and CEO Kenneth E. Bentsen, Jr. interviewed Securities and Exchange Commission Chairman Jay Clayton on a wide range of topics, including the consolidated audit trail, Regulation Best Interest and municipal advisors' roles in private placements.

In a one-on-one interview, SIFMA President and CEO Kenneth E. Bentsen, Jr. and Federal Reserve Bank of New York President John Williams discussed interest rates, monetary policy and the economy.

Guy Moszkowski, Autonomous Research founder and former director of research, moderated a panel on the outlook for capital markets with expert insights on the economy, the Washington environment, the financial-services industry and investment opportunities.

The Securities and Exchange Commission is working "full steam ahead" to improve the consolidated audit trail, with a target date of 2022 for completion, Chairman Jay Clayton said at the SIFMA Annual Meeting. He addressed concern about identity theft and said the SEC will not collect data that renders investors vulnerable and will restrict itself to "phone book information."

Federal Reserve Bank of New York President John Williams said at the SIFMA Annual Meeting that the central bank is not set on predetermined policy on interest rates in coming months and that "the key thing is we're not locked into any specific decision." The Fed is satisfied with monetary policy at the moment, Williams said, and the economy is in a good position.

In an interview with SIFMA President and CEO Kenneth E. Bentsen, Jr. at the SIFMA Annual Meeting, Securities and Exchange Commission Chairman Jay Clayton asked whether Regulation Best Interest preserves investors' ability to make choices. "Choice in a way that provides investors the choice and protection that they deserve and expect? ... I think we have a set of rules that will really benefit investors, add transparency, add obligations and will benefit our markets," Clayton said. Bentsen voiced SIFMA's support for Reg BI and said, "It's a tough rule, and we're digging through it; a lot of work's being done on it."

Sen. Tim Scott, R-S.C., said at the SIFMA Annual Meeting work is ongoing to further define rules on Opportunity Zone funds, an effort that will culminate in regulatory clarity that encourages investment. Scott is working with lawmakers including Sen. Cory Booker, D-N.J., to establish reporting mandates for Opportunity Zone investors.

In a discussion at the SIFMA Annual Meeting with SIFMA President and CEO Kenneth E. Bentsen, Jr. on municipal advisors' roles in private placements, Securities and Exchange Commission Chairman Jay Clayton urged dealers to come forward with comments on proposed changes. Bentsen expressed concern about proposed exemptions for muni advisors, saying they could be seen as endorsements for those advisors to act as unlicensed placement agents. SIFMA's Leslie Norwood said, "We feel very strongly that this [relief] would turn the tide on the SEC's regulations of investor protection and the Municipal Securities Rulemaking Board's and SEC's drive to more transparency in the direct-placement market."

Edward Jones managing partner Penny Pennington said at the SIFMA Annual Meeting the firm is encouraging advisors to act as "friends with financial expertise" when working with clients on retirement planning. The firm is also factoring in "megatrends," such as changing demographics and the disappearance of pensions, when guiding advisors, Pennington said.

Panelists at the SIFMA Annual Meeting discussed challenges of tackling financial abuse of the elderly, with one panelist saying perpetrators frequently are family members or close associates and, because of that, abuse often goes unreported. Lisa Bleier, managing director and associate general counsel for SIFMA, said work is underway to develop a portal that helps financial firms identify the right agency for reporting cases and recommended use of SIFMA's comprehensive Senior Investor Protection Toolkit.

Authorities and standards setters should avoid burdensome rules and should remain flexible in determining criteria that define sustainable investment, panelists said at the SIFMA Annual Meeting. "We see a huge potential by sustainable investing not only to activate new funds but to activate a new group of investors," said Elisabeth Ottawa, deputy head of public policy at Schroders.

The cost of complying with the Securities and Exchange Commission's Regulation Best Interest will be worthwhile because of the consistency it will provide broker-dealers in serving their clients, said Hilliard Lyons' James Allen, SIFMA chairman emeritus for 2020. "Reg BI is arguably the most significant enhancement of conduct standards since the Securities Exchange Act of 1934," he said.