Lobby Group Admonishes SEC On Enforcement

Law360, New York (March 9, 2006, 12:00 AM EST) -- The U.S. Chamber of Commerce is calling for changes to the U.S. Securities and Exchange Commission's enforcement process, criticizing the agency's legal actions against companies as “increasingly punitive.”

The group's report, titled “Report on the Current Enforcement Program of the Securities and Exchange Commission,” says the Commission has grown steadily unfriendly towards businesses in the wake of the 2002 corporate scandals, which prompted Congress to expand the agency’s enforcement powers.

The Chamber of Commerce is the nation’s largest business lobbying group, representing more than 3 million...
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