Financial Regulation

Businesses of all sizes need well-functioning and multi-faceted capital markets. Excessive and unnecessary banking and securities regulations constrain access to capital for businesses, making it harder for them to form and grow. The Chamber believes a free and efficient capital market system is essential to economic growth and innovation.

In addition, public companies are facing increasing outside pressure to focus on short term gains and special interests over long term wellbeing and investment. The Chamber is focused on rebalancing the system to reinvigorate the public company model.

Projects and Programs

 

Priorities for 2018

  • Alleviate the regulatory burden that is currently deterring companies from going public. Building off the success of the 2012 JOBS Act, the Chamber will advocate for a set of reform recommendations to help more companies go public.
  • Bring transparency and accountability to proxy advisory firms, modernize corporate disclosures, reform the shareholder proposal system, and expose special interest activism.
  • Enact legislation that provides broad relief to banks that offer critical main street financing, and pursue regulatory changes for those banks not afforded legislative relief.
  • Reform bank capital and liquidity rules to free up lending to small and midsize businesses, including by:
    • Pursuing legislation revising section 165 of the Dodd-Frank Act, such that application of enhanced prudential standards and supervision by the Federal Reserve is based on a multifactor risk assessment.
    • Advocating for recalibration of Basel III standards, the removal of these standards’ gold-plating by the Federal Reserve, broad relief for community banks, and reforms to the Dodd-Frank Act stress tests and comprehensive capital analysis and review.

Recent Activity

Above the FoldOct 18, 2018 - 2:30pm
The Securities and Exchange Commission headquarters in Washington, D.C.

Quick Take: Your Primer on SEC's Proposed Best Interest Regulations

Proposals have been released regarding standards of conduct for broker-dealers and investment advisers.

Above the FoldOct 17, 2018 - 4:30pm
Federal Reserve building

Financial Regulators and Congress have a Chance to Fix the Volcker Rule

The recent proposal to fix it can help remove the gunk that is clogging our economic growth engine.

Press ReleaseOct 17, 2018 - 10:00am

U.S. Chamber Statement on the Rescission of Prudential Financial’s SIFI Designation

WASHINGTON, D.C. — David Hirschmann, president and CEO of the U.S. Chamber Center for Capital Markets Competitiveness (CCMC), issued the following statement today regarding the decision by the Financial Stability Oversight Council (FSOC) to rescind the designation of Prudential Financial as a “systemically important financial institution” (SIFI): 

Press ReleaseOct 09, 2018 - 1:30pm

U.S. Chamber: Proxy Advisory Industry and Shareholder Proposal System Need Reform

Two New Reports Examine Influence of Unreliable Proxy Advisory Firms and Impact of Outdated Shareholder Proposal System

EventOct 09, 2018 - 11:30am to 2:00pm
Proxy Season Event Teaser Graphic

Examining Developments and Looking Forward

Join the U.S. Chamber’s Center for Capital Markets Competitiveness (CCMC) this Tuesday, October 9, for a lunch event that will discuss developments and issues that arose during the 2018 proxy season and what could be in store for the next proxy season and beyond.

LetterSep 19, 2018 - 10:15am

House Committee on Financial Services Markup

This letter was sent to the House Committee on Financial Services on several bills in Committee markup today.

Above the FoldSep 17, 2018 - 4:15pm
Comic book character, Wolverine.

X-Men for Financial Regulatory Reform

Ten years after the financial crisis, an inadequate regulatory system plagues our financial system.

Above the FoldSep 06, 2018 - 9:15am
2018 Q3 Metlife and U.S. Chamber of Commerce Small Business Index: 69.7.

Small Business Optimism Keeps Growing as Access to Capital Remains Strong

The Metlife & U.S. Chamber of Commerce Small Business Index moved up to 68.9 in Q3, hitting another record high.

Above the FoldAug 02, 2018 - 9:00am
The Securities and Exchange Commission headquarters in Washington, D.C.

When It Comes to Saving for the Future, One Size of Financial Advice Does Not Fit All

The SEC should ensure investors have access to different types of services and products and fully understand the choices they are making.

Above the FoldJul 27, 2018 - 1:15pm
Finance app on a smart phone.

We Need to Bridge the Gap Between FinTech Policy and Innovation

Here are 8 principles for what smart policymaking looks like in this ever-changing industry.