Hewitt to attack 'hasty' US lawmakers
Patricia Hewitt will tonight attack US legislators over the way it has rushed through new laws in the wake of Enron and WorldCom in a desperate bid to clean up corporate America.
The trade secretary will warn finance directors of top UK companies at a gathering of the 100 Club that the US is likely to ‘repent at leisure’ over some of the measures.
She will also criticise American lawmakers over their failure to consult other countries or consider the impact the legislation will have on UK companies that have stock exchange listings in the US and on foreign audit firms.
The government is seeking to gain exemptions for UK firms already complying with national corporate governance standards to avoid extra cost being forced onto them.