BusinessCompany NewsNasdaq chief rejects calls for market reforms

Nasdaq chief rejects calls for market reforms

The chief executive of the technology-heavy Nasdaq index says it is not necessary to reform financial markets in the wake of the collapse of Enron.

Speaking to the BBC’s World Business Report, Hardwick Simmons said: ‘I don’t think more reforms are needed – I think everyone knows full well what their responsibilities are.’

Instead Simmons blamed the demise of what was once one of America’s most successful company’s on a failure in Enron’s corporate structures.

‘Enron knew full well that it should be transparent…it was really a failure of character in Enron’s corporate office.’

Simmons comments fly in the face of overwhelming investor calls for Wall Street analysts, auditors and credit rating agencies to change the way they operate given the fact that none of them picked up on problems at Enron before its sudden collapse.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor