2017-03-14T08:31:37-05:00 2016-07-31 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2015-08-01 300406260 COMMITTEE ON CAPITAL MARKETS REGULATION INC C/O HAL S SCOTT COMM 6174952790 1557 MASSACHUSETTS AVE LILC 339 CAMBRIDGE MA 02138 HAL S SCOTT PRESIDENT/DIRECTOR 6174952790 2017-03-13 1 ALFONSO PERILLO P00950491 6172276161 2017-03-13 2015 2021-01-29 14:40:06Z HAL S SCOTT 1557 MASSACHUSETTS AVE LILC 339 CAMBRIDGE MA 02138 1800007 0 X WWW.CAPMKTSREG.ORG X 2007 DE TO RESEARCH AND ADDRESS SPECIFIC ISSUES AFFECTING THE REGULATION OF U.S. CAPITAL MARKETS. 5 4 12 4 0 0 1595219 1795401 0 0 5866 4606 0 0 1601085 1800007 0 0 0 0 1038681 1207129 0 0 69167 332443 348659 1371124 1555788 229961 244219 2582642 2826208 45377 44724 2537265 2781484 X THE SPECIFIC PURPOSES FOR WHICH THE CORPORATION IS FORMED INCLUDE: 1) EXPLORING A RANGE OF ISSUES RELATED TO MAINTAINING AND IMPROVING THE COMPETITIVENESS OF THE US CAPITAL MARKETS; 2) RECOMMENDING POLICY CHANGES THAT SHOULD BE MADE, (CONTINUED ON SCHEDULE O) OR AREAS OF RESEARCH THAT SHOULD BE PURSUED; 3) PRESERVING AND ENHANCING THE BALANCE BETWEEN EFFICIENT AND COMPETITIVE CAPITAL MARKETS AND SHAREHOLDER PROTECTION; AND 4) PURSUING OTHER SIMILAR AREAS OF STUDY AND DISCUSSION. 0 0 1248114 THE COMMITTEE ON CAPITAL MARKETS REGULATION, INC. IS AN INDEPENDENT AND NONPARTISAN RESEARCH ORGANIZATION DEDICATED TO IMPROVING THE REGULATION OF U.S. CAPITAL MARKETS. THE COMMITTEE'S RESEARCH PROVIDES POLICYMAKERS WITH A NONPARTISAN EMPIRICAL FOUNDATION FOR PUBLIC POLICY AS WELL AS EDUCATES THE PUBLIC ON THESE ISSUES. DURING THE REPORTABLE FISCAL YEAR, THE COMMITTEE (1) RELEASED A COMPREHENSIVE EQUITY MARKET STRUCTURE REPORT SETTING FORTH TWENTY SIX RECOMMENDATIONS FOR MAKING THE STOCK MARKET MORE RESILIENT, TRANSPARENT AND COMPETITIVE; (2) RESEARCHED THE ISSUE OF CONTAGION, WHICH IS THE RISK THAT A RUN ON PRIVATE SHORT-TERM DEBT COULD CAUSE ANOTHER FINANCIAL CRISIS, AND MET WITH POLICYMAKERS TO DISCUSS THIS RISK, (3) RELEASED A REPORT ON THE FEDERAL RESERVE'S STRESS TEST FOCUSED ON HOW (CONTINUED ON SCHEDULE O) TO ENHANCE THE TRANSPARENCY OF THE STRESS TEST. 1248114 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 1 12 1 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 0 1 0 1 1 1 1 1 1 1 1 0 MA NY X SHARON LEVESQUE CPA 6174955143 50 CHURCH STREET 3RD FLOOR CAMBRIDGE MA 02138 HAL S SCOTT PRESIDENT/DIRECTOR 30.00 X X 419999 0 0 ROBERT GLAUBER DIRECTOR 0.50 X 0 0 0 ROBERT GLENN HUBBARD DIRECTOR 0.50 X 0 0 0 ANDREW KURITZKES DIRECTOR (APPOINTED 11/15) 0.50 X 0 0 0 JOHN L THORNTON DIRECTOR 0.50 X 0 0 0 WILLIAM G PARRETT DIRECTOR (RESIGNED 11/15) 0.50 X 0 0 0 SHARON M LEVESQUE TREASURER/CFO 20.00 X 52495 0 0 JACQUELINE MCCABE HIRED 1015 V.P./DEPUTY DIRECTOR/SECRETARY 20.00 X 8741 0 0 JOHN A GULLIVER EXECUTIVE DIRECTOR OF RESEARCH 50.00 X 151441 0 0 632676 0 0 2 0 1 0 0 1795401 1795401 4606 4606 1800007 0 0 4606 723521 610739 74919 37863 417013 352009 43181 21823 6475 5466 670 339 60120 50749 6225 3146 5342 5342 118835 95404 23431 100836 53630 47190 16 36911 36911 74881 68263 638 5980 3000 3000 LICENSE FEES 8854 8854 1555788 1248114 238507 69167 51122 120833 2501186 2693665 30334 11710 9519 9519 0 0 2582642 2826208 45377 44724 45377 44724 X 2537265 2581484 200000 2537265 2781484 2582642 2826208 244219 0 X X 0 1 X 1 0 X 1575600 1516370 1642700 1595219 1795401 8125290 1575600 1516370 1642700 1595219 1795401 8125290 3830976 4294314 5297 6811 5336 5866 4606 27916 8153206 0.52670 0.52010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48442 48442 1507346 1555788 227789 56947 0 0 174868 187285 212112 227789 802054 1203081 16896 25566 60520 48442 151424 43717 46821 53028 56947 200513 300770 200000 0 200000 50897 50897 170765 332 120200 50897 170200 565 170765 170200 170200 1.00000 0 0 9519 9519 0 0 1800007 0 1800007 0 1800007 1555788 0 1555788 0 1555788 PART V, LINE 4: TEMPORARILY RESTRICTED NET ASSETS WERE USED FOR RESEARCH AND POLICY PROGRAMS RELATED TO U.S. CAPITAL MARKETS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 HAL S SCOTT PRESIDENT/DIRECTOR 400000 0 19999 0 0 0 0 0 0 0 419999 0 0 0 JOHN A GULLIVER EXECUTIVE DIRECTOR OF RESEARCH 131441 0 20000 0 0 0 0 0 0 0 151441 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS PROVIDED FOR HAL S. SCOTT, PRESIDENT, IN THE CASE OF LONG TRIPS WHERE PRIVACY IS NEEDED FOR WORKING ON CONFIDENTIAL DOCUMENTS, WHEN BUSINESS CLASS TICKETS ARE NOT AVAILABLE, OR A FREE UPGRADE TO FIRST CLASS IS AVAILABLE. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION IS A RELATIVELY SMALL ORGANIZATION AND HAD ONLY UP TO 6 BOARD MEMBERS AT ANY ONE TIME. THEREFORE, THERE ARE NO COMMITTEES. THE FULL BOARD ACTS ON ALL MATTERS DURING BOARD MEETINGS AND MINUTES ARE KEPT OF THOSE MEETINGS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED THOROUGHLY BY THE CORPORATION'S OFFICERS BEFORE FILING. A COPY OF THE FORM 990 IS PROVIDED TO AND REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ARTICLE VII OF THE CORPORATION'S BY-LAWS GOVERN CONFLICTS OF INTEREST. THE BY-LAWS DEFINE POTENTIAL CONFLICTS OF INTEREST AND SET OUT THE PROCESS FOR DISCLOSING POTENTIAL CONFLICTS OF INTEREST AND APPROVAL OF CONTRACTS AND TRANSACTIONS INVOLVING POTENTIAL CONFLICTS OF INTEREST. AT WEEKLY STATUS MEETINGS, ALL MAJOR ACTIVITIES OF THE CORPORATION ARE DISCUSSED BY THE CORPORATION'S OFFICERS (THE PRESIDENT/DIRECTOR, V.P./DEPUTY DIRECTOR/SECRETARY, TREASURER/CFO), THE ASSOC. DIRECTOR AND THE EXECUTIVE DIRECTOR FOR RESEARCH WHERE ANY POTENTIAL CONFLICTS OF INTEREST CAN BE IDENTIFIED. IN ADDITION, EACH DIRECTOR AND EACH OFFICER IS REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM. POTENTIAL CONFLICTS ARE REVIEWED AND OFFICERS AND DIRECTORS ARE IMMEDIATELY NOTIFIED OF ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT (OFFICERS AND KEY EMPLOYEES) INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS WHO WERE PROVIDED A REPORT FROM AN INDEPENDENT PROFESSIONAL COMPENSATION CONSULTANT PROVIDING, INTER ALIA, COMPARABILITY DATA, AND THE BOARD'S DELIBERATION AND DECISION WERE CONTEMPORANEOUSLY MEMORIALIZED IN THE MINUTES OF THE BOARD MEETING. THE INDEPENDENT PROFESSIONAL COMPENSATION CONSULTANT WAS HIRED TO PROVIDE 2016 AND 2017 COMPENSATION PLANNING INFORMATION UPDATES AS APPROPRIATE FOR THE FOLLOWING: HAL S. SCOTT JOHN GULLIVER JACQUELINE MCCABE SHARON LEVESQUE KRISTINA PETROSINO FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, WHICH INCLUDE ITS CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VII SHARON M. LEVESQUE - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. ROBERT GLAUBER - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. ROBERT GLENN HUBBARD - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. ANDREW KURITZKES - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. JOHN L. THORNTON - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. WILLIAM G. PARRETT - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. JOHN A. GULLIVER - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. JACQUELINE MCCABE (HIRED 10/15) - 50 CHURCH STREET, 3RD FLOOR, CAMBRIDGE, MA 02138. FORM 990, PART XII, LINE 2C: SINCE THE BOARD OF DIRECTORS WAS COMPRISED OF UP TO ONLY 6 INDIVIDUALS AT ANY ONE TIME DURING THE YEAR, THE FULL BOARD ASSUMED RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.