Date: February 17, 2017
Issue: Corporate governance
To: UK Corporate Governance Reform Team
Filing Type: Letter
Description: This letter submits comments in response to the UK's Corporate Governance Reform Green Paper. In it, CCMC highlights the corporate governance principles that contribute to vibrant capital markets and economic growth, and encourages the UK to prioritize growth as it considers the corporate governance framework for its public companies.
Date: January 13, 2017
Issue: Accounting; International
To: Basel Committee on Banking Supervision
Filing Type: Comment Letter
Description: CCMC submitted comments regarding the Consultative Document and related Discussion Paper on Regulatory Treatment of Accounting Provisions —Interim Approach and Transitional Arrangements. The Consultative Documents recognize the introduction of new accounting standards by the International Accounting Standards Board and the United States Financial Accounting Standards Board that will require the use of expected credit loss (“ECL”) models instead of incurred loss models. CCMC urges the Committee not to move forward with any changes in regulatory treatment until banks have had a chance in the United States and elsewhere to see how ECL accounting and other expected credit loss metrics are actually working.
Date: January 31, 2014
Issue: Capital Formation
To: Financial Stability Board
Filing Type: Regulatory Reform
Description: The Chamber’s Global Risk and Governance Initiative (GRGI) submitted a letter to the Financial Stability Board expressing concerns that its Risk Culture paper may create subjective guidelines that are redundant to, or in conflict with, the legal and regulatory provisions for systemically important financial institutions.