2016-03-10T09:10:14-06:00 2015-07-31 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2014-08-01 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 2016-03-09 1 ALFONSO PERILLO P00950491 6172276161 2016-03-09 2014 2016-08-17 19:52:53Z HAL S SCOTT 1557 MASSACHUSETTS AVE LILC 339 CAMBRIDGE MA 02138 1601085 0 X WWW.CAPMKTSREG.ORG X 2007 DE TO RESEARCH AND ADDRESS SPECIFIC ISSUES AFFECTING THE REGULATION OF U.S. CAPITAL MARKETS. 5 4 10 0 0 0 1642700 1595219 0 0 5336 5866 0 0 1648036 1601085 0 0 0 0 1107849 1038681 0 0 54862 326230 332443 1434079 1371124 213957 229961 2328845 2582642 21541 45377 2307304 2537265 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 1077462 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) CONDUCTED RESEARCH ON ISSUES AFFECTING THE COMPETITIVENESS OF U.S. CAPITAL MARKETS AND MARKET STRUCTURE REFORM, INCLUDING A QUARTERLY PUBLICATION MEASURING COMPETITIVENESS AND FINANCIAL PENALTIES DATA, (2) FOCUSED ON IMPLEMENTATION OF ITS RECOMMENDATIONS FROM ITS 2009 REPORT TITLED "THE GLOBAL FINANCIAL CRISIS, A PLAN FOR REGULATORY REFORM" THROUGH, INTER ALIA, LETTERS TO REGULATORY BODIES, AND (3) CONDUCTED FOLLOW UP RESEARCH ON: GLOBAL PRUDENTIAL REGULATION OF INTERNATIONAL BANKS, EQUITY MARKET REFORM, DESIGNATION OF NON-BANKS AS SYSTEMICALLY IMPORTANT FINANCIAL INSTITUTIONS, REFORMS TO THE GLOBAL DERIVATIVES MARKET, RISKS POSED BY FINANCIAL CONTAGION, INDIVIDUAL SHAREHOLDER ARBITRATION AS AN ALTERNATIVE TO SECURITIES CLASS ACTION, AND UNELECTED DIRECTORS. 1077462 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 1 0 0 0 0 0 0 0 0 1 10 0 1 10 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 125 MT AUBURN STREET CAMBRIDGE MA 02138 HAL S SCOTT PRESIDENT/DIRECTOR 30.00 X X 400000 0 0 ROBERT GLAUBER DIRECTOR 0.50 X 0 0 0 ROBERT GLENN HUBBARD DIRECTOR 0.50 X 0 0 0 JAMES F ROTHENBERG 8114-72115 DIRECTOR 0.50 X 0 0 0 JOHN L THORNTON DIRECTOR 0.50 X 0 0 0 WILLIAM G PARRETT DIRECTOR 0.50 X 0 0 0 SHARON M LEVESQUE TREASURER/CFO 16.00 X 54621 0 0 JOHN A GULLIVER SENIOR RESEARCH FELLOW 50.00 X 67641 0 0 SHARON B MORIN RESIGNED 615 V.P./DEPUTY DIRECTOR/SECRETARY 20.00 X 22458 0 0 BRIAN JOHNSON EXECUTIVE RESEARCH DIRECTO 50.00 X 111191 0 3149 655911 0 3149 2 0 1 0 0 1595219 50438 1595219 5866 5866 1601085 0 0 5866 627675 515099 83402 29174 350983 288032 46636 16315 5741 4711 763 267 54282 44546 7213 2523 5409 5409 20718 20718 15000 15000 105207 96085 9122 42385 27242 15143 34954 34954 96419 89396 440 6583 LICENSE FEES 12351 12351 1371124 1077462 238800 54862 108914 51122 2197971 2501186 21960 30334 9519 9519 0 0 2328845 2582642 21541 45377 21541 45377 X 2256407 2537265 50897 0 2307304 2537265 2328845 2582642 229961 0 X X 0 1 X 1 0 X 1567850 1575600 1516370 1642700 1595219 7897739 1567850 1575600 1516370 1642700 1595219 7897739 3775177 4122562 4902 5297 6811 5336 5866 28212 7925951 0.52010 0.54660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 60520 60520 1310604 1371124 212112 53028 0 0 167860 174868 187285 212112 742125 1113188 16227 16896 25566 60520 119209 41965 43717 46821 53028 185531 278297 50897 50897 170765 332 120200 50897 170200 565 170765 170200 170200 170200 170200 0 0 9519 9519 0 0 1601085 0 1601085 0 1601085 1371124 0 1371124 0 1371124 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 0 0 0 0 0 0 0 0 0 HAL S SCOTT PRESIDENT/DIRECTOR 400000 0 0 0 0 0 0 0 0 0 400000 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. X 1 50438 STOCK MARKET PRICES 0 0 0 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 2014 COMPENSATION PLANNING INFORMATION AND 2015 COMPENSATION PLANNING UPDATES AS APPROPRIATE FOR THE FOLLOWING: HAL S. SCOTT SHARON BAKER MORIN SHARON LEVESQUE JOHN GULLIVER 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 - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. ROBERT GLAUBER - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. ROBERT GLENN HUBBARD - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. JAMES F. ROTHENBERG (8/1/14-7/21/15) - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. JOHN L. THORNTON - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. WILLIAM G. PARRETT - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. JOHN A. GULLIVER - 125 MT AUBURN STREET, CAMBRIDGE, MA 02138. SHARON B. MORIN (RESIGNED 6/15) - 125 MT AUBURN STREET, 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.