U.S. Chamber Welcomes Progress on Capital Markets Reform

WASHINGTON, D.C.—David Hirschmann, president and CEO of the U.S. Chamber of Commerce's Center for Capital Markets Competitiveness (CCMC) today issued the following statement on the outline of the administration's proposal on capital markets regulation:

"This is the first step in a long legislative process to comprehensively overhaul the regulation of our capital markets, which is critical to the long-term stability of our economy.

"The U.S. Chamber strongly supports reforms that will close regulatory gaps, eliminate duplication and provide effective regulation of our capital markets.

"Effective reforms will ensure transparent, fair, well-regulated markets while allowing for responsible innovation and risk taking.

"The U.S. Chamber shares many of the administration's goals and we look forward to seeing a complete plan."

The U.S. Chamber's CCMC has been the leading business community voice for strengthening our capital markets. Earlier this month the CCMC issued a declaration outlining eight actions the administration, Congress, and business community must take to help restore and strengthen our nation's capital markets in a way that puts the economy, jobs and investors first. Those principles, endorsed by a bipartisan group of prominent business, former government and academic leaders, closely track with what the administration announced today.

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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