About the Report Card:
This report card evaluates the progress being made by regulators and policymakers to achieve modern, well-regulated, fair, transparent, and vibrant capital markets. It looks both at the implementation of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (The Dodd-Frank Act) as well as key regulatory reform issues not addressed by the new law. By all accounts, regulatory reform is incomplete. So, for those unfinished reforms outlined in this report, CCMC assigns a grade, in addition to an incomplete, based on where progress stands now before regulators finalize rules. This report also provides suggestions on how regulators and Congress can bring up the grade—complete the task to ensure that the ultimate outcome of regulatory reform is a robust capital formation system that benefits consumers, investors, and job creators.
Failure to get it right will deprive job creators of the investments, loans, and other forms of credit they need. This report examines four areas critical to ensuring the vitality of our markets:
- Protecting the Diversity of Capital Formation
- Reforming Corporate Governance
- Ensuring U.S. Competitiveness Through Financial Regulatory Reform
- Preserving the Integrity of Accounting and Auditing
The grades given are based on progress even if not yet finalized, made by Congress and the regulators to modernize capital markets regulation, and lays out achievable steps that can be taken to improve key regulatory proposals, provide more certainty, mitigate the unintended consequences and ensure the final outcome is a capital formation system that benefits investors, consumers and job creators.