Expanding Opportunities for U.S. Investors and Retirees: Private Equity

In recent years, U.S. companies have raised more equity through private offerings available only to institutional and high-net-worth investors than through initial public offerings that are available to the general public. The number of U.S. public companies has also been steadily declining, and private start-up companies are frequently reaching billion-dollar valuations without opening up to […]

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Hal S. Scott, President of the Committee on Capital Markets Regulation, Participates on SEC Roundtable Panel on Market Data and Market Access

On October 25, 2018, Hal S. Scott, President of the Committee on Capital Markets Regulation, participated as a panelist at the Securities and Exchange Commission’s (SEC) Roundtable on Market Data and Market Access. Professor Scott delivered remarks and answered questions on a panel entitled “Overview of Current Landscape for Market Data Products and Market Access […]

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Committee Submits Comment Letter on Proposed Amendments to the Regulations Implementing the Volcker Rule

On October 17, 2018, the Committee submitted a comment letter to the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Commodity Futures Trading Commission, and Securities and Exchange Commission providing the Committee’s input on the proposed amendments to regulations implementing the Dodd-Frank Act’s Volcker Rule. The Committee’s letter identifies areas […]

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Committee Staff Releases Update on Financial Penalties by U.S. Enforcement Agencies

On September 24, 2018, the Committee staff released an update on the financial penalties that U.S. public enforcement agencies imposed on the U.S. financial system in 2017. This statement is intended to update the staff report released in June 2018, “Rationalizing Enforcement in the U.S. Financial System,” which reviewed the financial penalties that U.S. public […]

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Committee Releases Statement on Stock Market Data: A Call for Transparency to Assess Impact on U.S. Investors

On September 24, 2018, the Committee released a statement expressing concern that U.S. stock exchanges are charging excessive fees for market data services that are unnecessarily increasing the cost of trading stocks for U.S. investors. The Committee statement examines the revenues that BATS, NASDAQ and NYSE report from market data services as a proxy for […]

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Committee Releases Statement on Short Selling’s Positive Impact on Markets and the Consequences of Short-Sale Restrictions

On September 13, 2018 the Committee released a statement on Short Selling’s Positive Impact on Markets and the Consequences of Short-Sale Restrictions. This statement was released in response to recent policy proposals and discussions on the role of short selling in our capital markets focus on mandatory public disclosure requirements for short sale transactions. The […]

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Committee Submits Comment Letter to the SEC on Best Interest Proposal

On July 16, 2018, the Committee submitted a comment letter to the Securities and Exchange Commission (“SEC”) in response to the SEC’s request for comment on its Regulation Best Interest and Form CRS Relationship Summary proposals. These proposals are intended to enhance the standard of conduct for broker-dealers when making securities transaction or investment strategy […]

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Committee Submits Comment Letter to the Fed on Capital Proposal

On June 25, 2018, the Committee submitted a comment letter to the Federal Reserve (the “Fed”) in response to the Fed’s proposals on amendments to the Regulatory Capital, Capital Plan, and Stress Test Rules (“Proposed Amendments”). The letter commended the Fed for its efforts to relax the capital distribution and balance sheet assumptions in the […]

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Committee Staff Releases Report on the U.S. Public Enforcement System

Today the Staff of the Committee on Capital Markets Regulation is releasing a report on the structure, operation, and transparency of the U.S. public enforcement system as it pertains to the financial system. The report explains how the enforcement system is organized, presents data on enforcement activity over a 17-year period, and offers 19 recommendations […]

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The Financial Times Op-ed: Is it time to roll back US bank regulation?

By HAL S. SCOTT Originally published by the Financial Times on March 1, 2018 Ten years after the start of the financial crisis, US policymakers are finally starting to deal with the stiff regulatory reaction that it spawned. The US Senate will soon take up the first bipartisan effort to rein in the impact of […]

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