The largest U.S. business lobbying group criticized federal securities regulators on Thursday for bringing what it described as a "wave" of losing cases against businesses, drawing a sharply worded reply from the nation's top market regulator.
The U.S. Chamber of Commerce called on the Securities and Exchange Commission to form a special advisory committee to examine its enforcement practices.
"The commission should closely evaluate the number of recent losses in litigated enforcement actions, the various reasons for those losses, and the criticisms of both factual assertions and legal theories that are contained in the decisions," the chamber said in a report on SEC enforcement.
SEC Chairman Christopher Cox said the investor protection agency will weigh the chamber report, but issued a warning.
See full Article.
Posts
