Pitt bows out of London appearance
The chairman of the US financial regulator has been forced to cancel a trip to London this week amid the growing storm over the selection of a chief for the new accounting watchdog.
Harvey Pitt, chairman of the US Securities & Exchange Commission, has at the last minute decided not to attend a conference tomorrow (Tuesday), instead asking Alan Bellar, his director of corporate finance, to address chief executives and finance directors in the City.
But he will be speaking to the delegates via a video link with the US.
Pitt has been forced to cancel the visit after continuing problems in the US over the ‘politicisation’ of his choice of chairman of the new accountancy regulator, the Public Company Accounting Oversight Board.
His decision not to come to the UK has also thrown into doubt a planned visit to Brussels on Thursday where he is due to address a conference organised by the ICAEW.