The Chamber supports strong corporate governance and accounting rules to protect investors, as well as vigilant oversight and enforcement to root out all fraud. However, we strenuously oppose regulators who have exceeded their authority and reached well beyond what Sarbanes-Oxley and other laws have intended. And we are deeply troubled by the actions of some prosecutors and attorneys general who seem bent on criminalizing honest mistakes and legitimate accounting differences. By forcing some companies into settlements without due process, these powerful officials have inexcusably trampled on the rights guaranteed to all of us.
The U.S. Chamber of Commerce has organized an independent, high-level, bipartisan
commission to consider the appropriate legal and regulatory framework for the U.S. capital markets in the 21st century. The ultimate goal of the Commission is to help preserve and strengthen the U.S. capital markets as a system that are fully transparent and scrupulously honest, and yet a wellspring of innovation, invention, and growth.
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