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Does regulation work? ‘Don’t ask me,’ says former SEC chief

Does regulation work? ‘Don’t ask me,’ says former SEC chief

by Rick Turoczy on April 6, 2005

Many of the speakers at the Sun event echoed that last comment. If you think Sarbanes-Oxley is the end of the regulatory parade, you’re probably wrong. Expect more and more overhead, not less. Of course, these messages came from vendors selling compliance software and the like, including Pitt whose firm Kalorama Partners provides corporate governance services. How handy.

Large companies have been forced to deal with these compliance issues via a series of new laws that place tighter controls on privacy, record keeping and executive responsibility.

At times Pitt did sound McNealyian. He conceded that federal regulators may have gotten a bit zealous during their quests to seem anti-Enron or anti-Worldcom to the public. There are “burdensome laws,” he said. But where does admitting failure get us?

Does regulation work? ‘Don’t ask me,’ says former SEC chief

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