Abbreviation | CCMR |
---|---|
Formation | 2006 |
Type | nonpartisan research |
Purpose | Developing efficient capital markets, ensuring the stability of the financial system |
Headquarters | 134 Mt. Auburn St. |
Location |
|
Key people | Hal S. Scott, Director
Glenn Hubbard, Co-Chair John L. Thornton, Co-Chair |
Website | https://www.capmktsreg.org |
The Committee on Capital Markets Regulation is an independent and nonpartisan 501(c)(3) research organization financed by contributions from individuals, foundations, and corporations.
Thirty-six leaders from the financial sector, including banks, broker-dealers, asset managers, private funds, insurance companies, and academia comprise the Committee's membership. The Committee co-Chairs are Glenn Hubbard, Dean of Columbia Business School, and John L. Thornton, Chairman of the Brookings Institution. The Committee’s Director is Professor Hal S. Scott, Emeritus Nomura Professor and Director of the Program on International Financial Systems at Harvard Law School. The Committee's research regarding the regulation of U.S. capital markets provides policymakers with a nonpartisan, empirical foundation for public policy.
The Committee was founded in 2006 by then-Secretary of the Treasury, Henry Paulson.
In 2009, the Committee determined four critical objectives based upon a year of observation and research into the financial crisis that are further broken down into 57 specific recommendations. These four objectives are:
In 2010, within a 37-page letter to Chairman Dodd, Ranking Member Shelby, Chairman Lincoln and Ranking Member Chambliss, the CCMR evaluated all major elements in the financial reform proposals that have emerged from Senate committees, but focused especially on four as areas for compromise:
The Committee has published more recent reports, among other policy work, focused on reforms to cost-benefit analyses used by regulatory agencies in making rules, equity market structure, and expanding access to private equity investments for U.S. investors and retirees. In 2017, the Committee published a “Roadmap for Regulatory Reform” providing policy recommendations for the Trump administration organized in eleven categories.