Financial Regulatory Reform Update

U.S. Chamber Denounces Flawed Financial Reform Bill: Says Jobs to be Killed and Uncertainty Heightened

Read the Chamber's press release following the Senate's vote for final passage of financial reform legislation. 

The new bill creates 533 New Rulemakings, 60 Studies, and 93 Reports.

Resources:

» Click here to view the text of the conference report (updated 6/30/2010).   
» Click here to view language for each individual title.
» Click here to read a summary by title.
» Download Derivatives Regulatory Reform: Key End-User Issues for Implementation

The Chamber will continue to work vigorously through all available avenues—regulatory, legislative, and legal—to ensure that we have the most efficient, transparent, and well-regulated capital markets in the world. Check back for updates.

Recent Comment Letters

8/31 - The Financial Instruments Reporting and Convergence Alliance (FIRCA) sent a follow up letter to FASB regarding the Financial Instruments Project. View the letter.

8/30 - CCMC sent a letter to the Financial Accounting Standards Board (FASB) regarding the Financial Instruments Project, including the proposed changes to accounting for derivative instruments and hedging activities. View the letter.

8/11 - CCMC and U.S. Chamber's Institute for Legal Reform (ILR) submitted detailed comments on the FAS 5 proposal. View the letter.

8/5 - CCMC sent a letter to the SEC regarding the regulation of proxy advisory firms. View the letter.

8/3 -  CCMC sent a letter to the Financial Accounting Standards Board (FASB) requesting an extension on its FAS 5 proposal in order to allow companies enough time to provide detailed comments. View the letter.
UPDATE: FASB extended the deadline to September 20 as requested.

7/27 - The Chamber sent a letter to Chairman Frank and Ranking Member Bachus opposing H.R. 4790, the "Shareholder Protection Act of 2010" which requires shareholder votes on political expenditures by corporations.  View the letter.

Click here to view all comment letters.

  

 

 

 

 
 

Chamber Warns Against Taxing Financial Transactions

On March 11th, the Center for Capital Markets Competitiveness released a new study, Main Street Benefits of Our Financial Markets. The Study, conducted by Charles Jones, the Robert W. Lear Professor of Finance and Economics at Columbia Business School, and Erik Sirri, a Professor of Finance at Babson College and former director of the SEC Division of Trading and Markets, takes an in-depth look at how the evolution of our modern financial markets have reduced the cost trading for all investors, expanded investment opportunities for American families, and improved access to capital for U.S. businesses. Learn more...
 

Regulatory Reform

 

September 21 Event

Over the Counter (OTC) Derivatives Reform: Preparing for a Changing Marketplace.

Please join us on Tuesday, September 21, for an event to examine the issues confronting market participants as key provisions, including the derivatives title, of the Dodd-Frank Wall Street Reform and Consumer Protection Act are implemented. This half-day event will include a keynote address by Commodity Futures Trading Commission (CFTC), Chairman Gary Gensler and panel discussions.

Register Now!

Registration will begin at 9:00 a.m. with the program following from 9:30 a.m. to 1:30 p.m.

Derivatives Regulatory Reform: Key End-User Issues for Implementation

Download Derivatives Regulatory Reform: Key End-User Issues for Implementation, a PowerPoint presentation, highlighting key provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act that will impact end-users. This presentation provides an overview of the regulatory process and timelines for implementation as well as identifies the critical issues and rulemakings that end-users should follow.