Big business and institutional investors are at loggerheads over whether to water down laws, introduced in the aftermath of the Enron and WorldCom scandals, designed to help clean up the nation's boardrooms.
Emboldened by the Republican election victory last year, big business has launched an assault on legislation that it claims is restraining the entrepreneurial spirit motivating the nation's corporate leaders.
...US business is fighting investor-backed legislation that will soon force companies to include stock options on their profit and loss account, a move that will reduce profitability but help provide greater clarity about a company's true financial position.
Big business' ferocious campaign to dilute the Sarbanes-Oxley legislation - designed to tighten up internal financial controls and corporate governance - is yielding results, with the US Securities and Exchange Commission hosting a round table summit on the issue later this week.
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