I recently sent a letter to the Senate Republican Capital Markets Task Force outlining priorities we have identified for 2008 to ensure our nation's competitiveness in the global economy.  From the letter:

Improving the competitiveness of our markets should not begin or end with major reforms such as merging regulators and announcing new organizational structures. Rather, these changes in structure must be accompanied by a new regulatory culture. Although the future success of our markets will depend on addressing broad structural reforms, regulatory reorganization is not a prerequisite to addressing the immediate need of regulatory cultural reform. The priorities we have identified for 2008 — although critical to the longterm sustainability of any degree of regulatory reorganization — are readily achievable through immediate action.

1. Facilitate enactment of the Attorney-Client Privilege Protection Act
2. Support the current SEC proxy access rules
3. Fold the Office of Compliance Inspections and Examinations back into SEC operating divisions
4. Address Abusive Securities Litigation
5. Call for greater adherence to the Administrative Procedures Act in SEC rulemaking
6. Address the long-term viability and concentration of the public company audit profession

In many of these areas, regulatory and industry support for reform has reached - or is nearing - a critical mass. Additional support for these proposals from the Task Force and other members of Congress would provide valuable momentum in achieving these and other necessary reforms. We must emphasize that the speed with which Congress, SEC, Treasury, and other agencies act in designing a strategy to developing and implementing these changes will determine the future of U.S. competitiveness.

The complete letter can be found here.