A blueprint the next administration and Congress can follow to ensure our nation’s financial regulatory system both enhances financial stability and fuels Main Street economic growth. To achieve these goals, the action plan, with more than 100 recommendations, outlines a full list of critical issues that must be addressed by the next president and Congress, as well as shorter term action items that can be taken up in the first 100 days of the new administration.

1. All Americans have a vested interest in strengthening America’s financial
services industry, and the time has come to rally support for this effort.”
Former New York Mayor Michael R. Bloomberg and U.S. Senator Charles Schumer.
Sustaining New York’s and the US’ Global Financial Services Leadership, January
2007

2. The challenges of 2007 remain, but they have
Become more complex. New challenges have risen as well.
It is imperative that we make progress.
The next administration has the opportunity to fix the mistakes of the past
and address the structural shortfalls that may limit the future growth
horizon.
INTRODUCTION

3. Today the U.S. Chamber is releasing an action plan
for the next administration.
The hallmarks of the U.S. financial system have been diversity,
competition, and innovation.
The right solutions are needed to achieve the economic growth and job
creation Americans expect and work hard to achieve.
INTRODUCTION

4. The next administration should focus on
nine subject areas:
SUBJECT AREAS
STRUCTURAL REGULATORY REFORM CAPITAL FORMATION AND FINTECH
INTERNATIONAL COORDINATION LITIGATION REFORM AND RESTORING DUE
PROCESS
SYSTEMIC RISK SEC ENFORCEMENT REFORM
RETIREMENT SAVINGS CONSUMER PROTECTION
FINANCIAL REPORTING, CORPORATE
GOVERANNCE, AND DISCLOSURE REFORM

5. Critical bi-partisan reforms for the next administration:
1. Create a Presidential Commission on Financial Regulatory
Restructuring;
2. Negotiate to reconstitute the Financial Stability Board;
3. Create a bi-cameral committee to study the FinTech
landscape;
4. Calculate the cumulative impact of current financial
regulations;
THE FIRST 100 DAYS
ACTION PLAN

6. Critical bi-partisan reforms for the next administration:
5. Hold hearings on modernizing the regulatory process;
6. Enact legislation to reform the Fed, require international
transparency, and tailor systemic risk regulation;
7. Initiate hearings on living wills and stress test procedures;
and
8. Enact a JOBS Act 2.0 package.
THE FIRST 100 DAYS
ACTION PLAN

7. Create a Presidential Commission on Financial Regulatory Restructuring.
Reform and place the regulatory processes of the Federal Reserve and
other banking regulators on par with other agencies.
PRINCIPAL RECOMMENDATIONS
STRUCTURAL REGULATORY REFORM

8. Modernize rule writing through enhanced economic analysis and
examination of existing regulations before creating new ones.
PRINCIPAL RECOMMENDATIONS
STRUCTURAL REGULATORY REFORM

9. Reconstitute the Financial Stability Board through a treaty to create
transparent and accountable regulatory and designation processes.
PRINCIPAL RECOMMENDATIONS
INTERNATIONAL COORDINATION AND PROCESS

10. Reform the Financial Stability Oversight Council and clarify use of
systemic risk designations and regulation.
Provide relief for small, medium, and regional banks from enhanced
regulations and tailor systemic risk regulation to nonbank business
models.
PRINCIPAL RECOMMENDATIONS
SYSTEMIC RISK

11. Conduct a study of major regulatory initiatives for cumulative impacts on
all institutions, their customers, and economic growth.
PRINCIPAL RECOMMENDATIONS
SYSTEMIC RISK

12. Restructure the Consumer Financial Protection Bureau into a commission
and place it under congressional oversight through appropriations.
PRINCIPAL RECOMMENDATIONS
CONSUMER PROTECTION

13. Congress should enhance capital formation by passing a JOBS Act 2.0
package.
Congress should create a special bi-cameral committee to study the
FinTech landscape and its policy recommendations.
PRINCIPAL RECOMMENDATIONS
SYSTEMIC RISK

14. Repeal the Department of Labor’s fiduciary duty rule and replace it with a
Security and Exchange Commission uniform fiduciary standard rule.
PRINCIPAL RECOMMENDATIONS
RETIREMENT SAVINGS

15. Create a Financial Reporting Forum to identify and address emerging
financial reporting issues.
Reform corporate governance 14a-8 rules and modernize shareholder
resubmission thresholds.
PRINCIPAL RECOMMENDATIONS
FINANCIAL REPORTING
CORPORATE GOVERNANCE

16. Congress and the SEC should create fair due process by creating rights
of discovery, right of removal in complex cases, and preservation of right
to jury trial.
PRINCIPAL RECOMMENDATIONS
SEC ENFORCEMENT REFORM

17. www.FinancingGrowth.com
FIND OUT MORE