Monday, March 12, 2007
Business begins its week of advocating changes in the regulation of capital markets, with the U.S. Chamber of Commerce's release of its report, followed on Tuesday with the Treasury Dept's roundtable discussion and Wednesday's Chamber of Commerce conference at which SEC Chair Cox will speak. The Chamber of Commerce Report is the third report calling for changes to make the US markets more competitive; earlier reports were released by the Paulson Capital Markets Group and a Schumer-Bloomberg group. The Chamber of Commerce Report has six specific recommendations, including changing the SEC's structure and approach to regulation and giving the agency more authority to exempt companies from some provisions of SOX. It also wants limits on private securities actions and calls on corporations to stop making quarterly earnings estimates. See WSJ, Panel Urges Steps To Boost Allure Of U.S. Markets and WPost, Businesses Prepare to Mount a Concerted Attack on Regulation. The Chamber of Commerce Report is available on its website.