Congress should revamp securities regulation, shield accounting firms from litigation and take other steps to bolster American financial competitiveness, according to a new report from U.S. Chamber of Commerce.
Echoing other recent studies by business and political groups, the report by a chamber-appointed commission argues that capital markets are threatened by rapidly maturing foreign rivals and must make significant changes to continue attracting foreign companies and investors.
“There have been great advantages to being the place where everybody brings their money, and we want to maintain those advantages,” says David Chavern, the chamber’s chief operating officer.