Regulation: Donaldson hits back at critics

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.