William Donaldson hit back at critics of the Securities and Exchange Commission last month at the Council on Foreign Relations in New York, defending recent financial legislation, especially 2002’s Sarbanes-Oxley Act. While not renowned as a blunt man, the 27th chairman of the SEC was keen to make his point.
“Some observers have complained that the pace of regulatory activity is ‘damaging the long-term competitiveness of US companies and the US capital markets’,” Donaldson said. “Notably, these complaints do not seem to come from those with the greatest economic interest in the long-term health of our public companies and markets.
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