At a recent New York meeting featuring four former SEC chairmen, Harvey Pitt, who was at the SEC helm between 2001 and 2003, leapt to the defence of US regulators. He said at the roundtable, hosted by the Council on Foreign Relations, that the global marketplace was being divided between those companies that could meet higher regulatory standards and those that could not. “What we are witnessing globally is that regulatory standards are increasing, not just in the US,” he argued.
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