By Theresa Hickman-Oracle on Jul 13, 2010
If you didn't think we had enough regulations in the U.S., get ready to see them coming out of your ears.
In the WSJ article from yesterday, June 12, 2010, entitled "SEC Enters Overdrive to Prepare for Overhaul," it talks about how the SEC will see a sharp increase to its workload trying to meet a tight deadline to write over 90 new rules. The topics will range from registering hedge fund advisers, allowing shareholders to directly nominate director candidates, forcing companies to disclose more executive compensation information, and establishing an oversight of derivatives markets, etc.
They anticipate that this rule-writing exercise will consume over a year's worth of their time when other projects will likely be placed on hold. For example, the article states, "Other potential rules will likely fall by the wayside, such as a top-to-bottom review of U.S. companies' disclosure requirements."
On the bright side, they will need to hire hundreds of new employees to help with the additonal workload. On the negative side it means more regulations.
The thing I found really funny and ironic was that on the same day, there was another article entitled "Revisiting the Regulations Affecting Business," that asks executive to identify those regulations that inhibit job growth.
Geez, just reading all the regulations and staying on top of them will be a full-time job.
And you know what will happen once they start reviewing regulations? We'll have even more regulations to change the existing ones.