A column in the Wall Street Journal today describes a new committee launching soon. “The Committee on Capital Markets Regulation” is expected to recommend changes to the Sarbanes-Oxley Act and other laws and regulations in the spirit of increasing or renewing the competitiveness of the US markets. The commission is co-chaired by Glenn Hubbard, former White House economic adviser, and John Thornton, former Goldman Sachs president, and also includes Samuel DiPiazza of PricewaterhouseCoopers and Bill Parrett of Deloitte.
From the article:
The committee plans to submit its recommendations by the end of November — after the elections but in time for the administration to use in formulating legislative proposals for next year.
Still, there is an issue here that needs to be addressed. New York Stock Exchange CEO John Thain grabbed attention recently by pointing out that nine of the 10 largest initial public offerings this year, and 24 of the 25 largest last year, were done in overseas markets.