GE's ex boss criticises new rules
New corporate governance rules have gone too far, claims the former chief executive of General Electric.
Jack Welch this week said that new regulations requiring finance directors and chief executives to personally certify their accounts should be revised.
‘Sarbanes Oxley is, in fact, too tough, but we’ll fix it. There are already some fixes going in place,’ he told The Times.
Welch said that better than regulation the best deterrent was to see ‘the bad guys’ punished.