Chamber refocuses on corporate governance

Making good on President Tom Donohue’s vow to try to stop “the unintended expansion and abusive enforcement of corporate governance and accounting rules,” the U.S. Chamber of Commerce has created a corporate-governance initiative and hired an official from the Export-Import Bank to run it.

The Chamber is putting several million dollars behind the effort, according to earlier comments by Donohue, in an effort to rebuff what it characterizes as overly aggressive enforcement of corporate-governance laws and overreaching by government agencies.
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Chamber President Tom Donohue

The new head of the initiative, David Chavern, who served as deputy general counsel of the Export-Import Bank, said that some parts of the 2002 Sarbanes-Oxley corporate-governance law had been “overreaching and imposing too great burdens on companies vis-