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Campaigns
Events
Proxy Season 2017: Examining Developments and Looking Forward to 2018
Issues
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Letters
U.S. Chamber Supports “Putting Investors First Act”
The U.S. Chamber of Congress strongly supports H.R. 448, the “Putting Investors First Act,” which would provide for robust oversight of the proxy advisory industry, ensure that investment managers vote proxies in the best interests of their clients, and further reform the shareholder proposal process under Securities Exchange Act Rule 14a-8. In ...
Joint Trades Comments to the SEC on Recently Proposed Rulemaking on Proxy Voting Advice
CCMC joined with several trades to submit comments to the SEC on recently proposed rulemaking entitled “Proxy Voting Advice,” which would cripple important reforms to the proxy advisory industry adopted by the SEC in 2020. ...
CCMC Comments to the SEC on Proposed Rulemaking on Proxy Voting Advice
CCMC submitted comments to the SEC on recently proposed rulemaking entitled “Proxy Voting Advice,” which would cripple important reforms to the proxy advisory industry adopted by the SEC in 2020. ...
Joint Trades Comments to the SEC on Proposed Rulemaking on Proxy Voting Advice
CCMC joined with 7 organizations to submit comments to the SEC on recently proposed rulemaking entitled “Proxy Voting Advice,” which would cripple important reforms to the proxy advisory industry adopted by the SEC in 2020. ...
CCMC Comments on SEC proposed rulemaking on Form N-PX
CCMC submitted comments to the SEC on proposed rulemaking entitled “Enhanced Reporting of Proxy Votes by Registered Management Investment Companies; Reporting of Executive Compensation Votes by Institutional Investment Managers." ...
Chamber Letter to the DOL on the Investment Duty and Proxy Voting Regulation
U.S. Chamber letter to the DOL on the proposed regulation “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights." ...
CCMC Letter to the SEC on Comment Period for Proposed Amendments to Proxy Rule
CCMC provided comments calling for SEC to rescind its proposed amendments to the final rule and Issue an advanced notice of proposed rulemaking. Should the SEC decline CCMC called for an extension of the comment period. ...
CCMC Comments on SEC Considering Universal Proxy
CCMC provided comments in response to recent reports that the SEC is again considering rulemaking regarding the use of a so-called “universal” proxy card, and that a draft rule proposal is now circulating among the SEC’s five commissioners. As stated in previously comments to the SEC, we believe the concept of a universal proxy card is deeply ...
CCMC Comments to the SEC on their Announcement of Review and Non-enforcement of Proxy Advisor Rule
CCMC provide comments expressing serious concern over the announcement that the SEC will not enforce the proxy advice rule adopted by a vote of the Commission in July 2020. ...
CCMC Comments to the SEC on Reopening of Comment Period for Universal Proxy
CCMC Comments to the SEC on Reopening of Comment Period for Universal Proxy ...
Comments on DOL Proxy Voting and Shareholder Rights Proposal
CCMC comment on the DOL's Proxy voting and shareholder rights proposal. ...
Comments to the SEC on Proposed Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice
CCMC provided comments to the SEC on the proposed amendments to exemptions from the proxy rules for proxy voting advice ...
Press Releases
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Studies and Publications
Examining the Sec’s Proxy Advisor Rule
2020 Proxy Season Survey
U.S. CHAMBER OF COMMERCE ALERT: THE SEC’S FINAL RULE AND GUIDANCE REGARDING PROXY ADVISORY FIRMS
2019 PROXY SEASON SURVEY
2018 Proxy Season Survey
Corporate Governance Update: 2017 Proxy Season Survey
2016 Proxy Season Survey Summary
2015 Proxy Season Survey Summary
Public Company Initiatives in Reponse to the SEC Staff Guidance on Proxy Advisory Firms
Best Practices and Core Principles for the Development, Dispensation and Receipt of Proxy Advice
Speeches and Testimonies
Proxy Process and Rules: Examining Current Practices and Potential Changes
Other
Legislation and Regulation Tracker
LegislationRegulation Legislation Legislation Regulation Regulation Back to Top ...
Effective Corporate Governance Policies
Issue Summary CCMC fights for responsible corporate governance polices that benefit the long-term position of companies and shareholders and oppose special interest activist agendas unrelated to the interests of a business or investors. This includes current efforts related to the following specific issues: Proxy advisory firm oversight ...
Testimony and Speeches
2016 December 8: Impact of Regulations on Short-Term Financing June 22: Financing America's Growth - How Robust Capital Markets Can Help Revitalize Our Economy June 2: Remarks before the Nactional Association of Corporate Treasurers 2016 National Conference May 18: Examining the CFPB's Proposed Rulemaking on Arbitration: Is it in the ...
Press Releases
For press inquiries, please contact: (202) 463-5682 or press@uschamber.com 2016 September 23: U.S. Chamber Statement on Fed Rule Proposing Capital, Disclosure Requirements for Physical Commodities Activities September 12: U.S. Chamber's CCMC Outlines Comprehensive Financial Regulatory Reform Agenda for Next ...
Blog Posts
U.S. Chamber Supports Putting Investors First Act
WASHINGTON, D.C. – Tom Quaadman, executive vice president of the U.S. Chamber's Center for Capital Markets Competitiveness issued the following statement today announcing the U.S. Chamber's support of Representative Bryan Steil's (WI-01) Putting Investors First Act."For years, a duopoly of proxy advisory firms have used their outsized ...
U.S. Chamber Sues to Stop Securities and Exchange Commission Reversal of Proxy Advisor Rule
Reversing the 2020 Proxy Advisor Rule will undo investor protections and create disincentives for companies to go, and stay, public Read More ...
U.S. Chamber: SEC Decision to Reverse Finalized Rulemakings Undermines Regulatory Progress
WASHINGTON, D.C. – Tom Quaadman, executive vice president of the U.S. Chamber's Center for Capital Markets Competitiveness issued the following statement today regarding the Securities and Exchange Commission’s proposal to finalize its roll back of proxy advisory firm regulations and propose changes to the rules governing shareholder ...
How IPOs Would Help A Broad Economic Recovery
Tom Quaadman The economic fallout from the pandemic has led to an uneven recovery, in which certain sectors do well, while others struggle. Technology and goods-producing companies look poised to thrive as their products and services adapt. Other segments of the economy like brick-and-mortar retailers and the entertainment and hospitality ...
The Role of ESG in the Business Community
Tom Quaadman In the worlds of corporate governance and investing, the hottest buzzwords are Environmental, Social and Governance, or ESG. ESG considerations are making their way into the board room, corporate disclosures, and investor considerations for many reasons. The concerns and goals of investors change over ...
Help Public Companies Generate Wealth
Suzanne Clark Dropbox's logo is displayed during the company's initial public offering at the Nasdaq MarketSite in New York City.Photo credit: Victor J. Blue/Bloomberg. It’s not often that the business community seeks more regulation. But when it comes to the unchecked, outsize influence of proxy advisory firms on our nation’s ...
Attacks on Dual-Class Share Structures are Unjustified
Tom Quaadman Traders work on the floor of the New York Stock Exchange. Photo credit: Michael Nagle/Bloomberg. The U.S. has roughly half the number of public companies that it had twenty years ago. Following the JOBS Act in 2012, the initial public offering (IPO) market started showing new signs of ...
Here’s Why 2019 Could Be a Big Year for Main Street Investors
Tom Quaadman Jay Clayton, chairman of U.S. Securities and Exchange Commission.Photo credit: Yuri Gripas/Bloomberg. Phrases like “proxy advisory firms” and “resubmission thresholds” don’t exactly roll off of the tongue, which may explain why the policies associated with those elements of the shareholder system ...
How to Beat the Crisis of the Vanishing IPO
Brian P. O'Shea Dropbox's logo is displayed during the company's initial public offering at the Nasdaq MarketSite in New York City.Photo credit: Victor J. Blue/Bloomberg. This week, the U.S. Chamber of Commerce (USCC) Center for Capital Markets Competitiveness (CCMC) held the twelfth annual Capital Markets Summit. But this year was different ...
Keith Hernandez, Game Winning RBI, and How Pay Ratio Strikes Out
Brian P. O'Shea Keith Hernandez and Jerry Seinfeld. Source: TBS/YouTube. If you ask most people about Keith Hernandez, some might recall his career as a professional baseball player, while more still would remember him from his recurring role on the immensely popular sitcom Seinfeld. But did you know ...
Why You Should Care About Corporate Governance
Brian P. O'Shea A panaoramic view of the 2017 Berkshire Hathaway annual shareholder meeting in Omaha, Neb. Photo credit: Daniel Acker/Bloomberg. Remember that moment during one of the 2016 presidential debates when the candidates engaged in a deep and provocative discussion about the laws and ...
Sign-on Letter in support of H.R. 5311, the Corporate Governance Reform and Transparency Act of 2016 (11/14/15)
Date: November 14, 2016 Issue: Corporate Governance To: Speaker Paul Ryan, U.S. House of Representatives Filing Type: Comment Letter Description: The undersigned organizations are writing in support of H.R.5311, the Corporate Governance Reform and Transparency Act of 2016 sponsored by Congressmen Sean Duffy ...