An independent committee formed with the endorsement of Treasury Secretary Henry M. Paulson Jr. called for a sweeping overhaul of securities regulations, citing concerns that American markets are losing their competitiveness. In a report released Thursday, the committee recommends making it harder for companies to be indicted by the government or sued by private lawyers, and urges policies to keep the Securities and Exchange Commission from adopting rules that impose high costs on business. The committee has no official standing, but it includes many influential members. Harvey J. Goldschmid, a professor at Columbia Law School who had served as general counsel and as a member of the S.E.C., said the report "raised legitimate questions but over all their recommendations are unbalanced and unwise." A briefing on the report was scheduled for 10:30 a.m. Thursday in New York.
• Go to Article from The New York Times
• Go to Article from Bloomberg News
• Go to Report from the Committee on Capital Markets Regulation
• Go to Webcast of Committee Briefing