When national regulators cooperate and share information, investors everywhere benefit from the enhanced protection such communication provides, said PCAOB Chairman James Doty in a speech Thursday to the Federation of European Accountants (FEE) Conference on Audit Policy in Brussels.
“In a crisis, when a nation’s (or a region’s) economic well-being is in jeopardy, there can be a tendency to retrench and pull inward,” said Doty, making his first trip to Europe in his new role at the PCAOB. “This is not the right response. We must embrace cooperation, and close regulatory loopholes and the opportunities for regulatory arbitrage.”
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