Center for Capital Markets Competitiveness
Organization's Own Description:
Since its inception in 2007, the U.S. Chamber’s Center for Capital Markets Competitiveness (CCMC) has worked to advance America’s global leadership in capital formation by supporting capital markets that are the most fair, efficient, and innovative in the world.
The recent global financial crisis has revealed weaknesses in our outdated, broken financial regulatory system and adversely impacted the ability of businesses to raise capital and create jobs. Unfortunately, the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act does not address the core causes of the financial crisis. Instead, it adds new regulatory agencies to the already antiquated system and grows a bloated, ineffective bureaucracy, leaving critical areas unaddressed.
The real impact of the Dodd-Frank Act will depend on its implementation, as it mandates regulators to enact hundreds of new rules and conduct dozens of studies. Looking forward, CCMC will ensure that key regulatory proposals meet the federally required cost-benefit tests supported by empirical evidence. It will challenge regulations that do not meet these tests and could harm the American economy in the rulemaking process and, when necessary, in the courts.
CCMC will leverage the Chamber’s communications and grassroots assets to ensure that Americans understand the important role of capital formation — and the firms that supply and enable it — as the essential driver of Main Street economic recovery and job creation, including the impact on small and medium-size businesses. read more