The Chamber previously sued the government to prevent the fiduciary rule's implementation. It has also called for reforms to rules governing shareholder proposals and the role of proxy advisors play in corporate elections.

Activist investors have pushed back on some of the Chamber's recommendations, saying the process is working and pointing to the willingness of large asset managers to back proposals once considered distractions.

In May, BlackRock Inc. backed a measure calling on Exxon Mobil Corp to report on risks it faces from climate change.

Clayton reiterated his commitment to making it more enticing for companies to go public, a goal that led President Donald Trump to nominate him to the top SEC post.

He answered a few questions from the audience, but declined to speak afterward with a small crowd of reporters who had hoped to get more details on his plans.

This article was provided by Reuters.

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