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SEC commissioner Paul Atkins says an overzealous response to option backdating threatens a form of compensation that has benefitted shareholders, and says the SEC should not undercut business judgment.
Helen Shaw, CFO.com | US
July 7, 2006
This is the first time in a very long time that any regulator, much less the SEC, has mentioned any potential deference to 'business judgement'. In the over-emotional debates about corporate avarice and greed we have defaulted to the erroneous idea that the government has all the answers when it comes to business practices. They dont (in fact, it amazes me that this has even been considered) and it is about time that someone outside of the business community said that. Dont misunderstand, corporate officers that intentionally violate the law should be punished, but we are unfortunately in a witchhunt period where all are presumed to be guilty.
Posted by Stephen Taylor | July 08, 2006 05:15 pm
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