NEW YORK-The financial services industry actually embraces the Dodd-Frank Wall Street Reform Act and related rules and regulations, as a means of restoring faith in its part of the economy, the heads of private client service and capital markets firms said Monday.

"As an industry we really do welcome financial reform," said James R. Allen, chairman and chief executive ofifcer of J.J.B. Hilliard, W.L. Lyons LLC, at the opening panel discussion of the annual meeting of the Securities Industry and Financial Markets Association at the Marriott Marquis hotel.

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