Regulation has damaged competitiveness, survey

North America

Regulatory policies and enforcement approaches of US authorities make US companies less competitive in global markets, according to almost two thirds of respondents (60%) of a global compliance survey by Eversheds LLP. The majority of respondents also said that they struggle for top management attention or resources to implement effective regulatory compliance globally. Businesses are questioning the impact of US laws and regulations, the survey found, with more than one third (35%) of respondents saying that the enforcement of US laws and regulations for companies acting internationally over the last two to three years was too aggressive. Some 69% of those surveyed said the increased regulation and enforcement by US agencies since the collapse of Enron has affected only “some or little reduction in wrongdoing.”