"
WASHINGTON — Federal officials say they are preparing to propose a series of regulatory changes to enhance American competitiveness overseas, attract foreign investment and give American investors a broader selection of foreign stocks.
But critics say the changes appear to be a last-ditch push by appointees of President Bush to dilute securities rules passed after the collapse of Enron and other large companies — measures that were meant to forestall accounting gimmicks and corrupt practices that led to those corporate failures.
Foreign regulators are beyond the reach of Congress, which oversees American securities regulation through confirmation proceedings, enforcement hearings and approval of the Securities and Exchange Commission’s budget.
The commission is preparing a timetable that will permit American companies to shift to the international rules....
The shift to international standards could also wind up eliminating the conflict-of-interest rules....
Officials say the proposed changes reflect the decades-long push toward global markets.
That's when I cut it because we know what that all is, don't we?
--MORE--"
