"The U.S. Securities and Exchange Commission's new chairman could use a legal shortcut to water down disclosure requirements blamed for overburdening public companies, according to Harvey Pitt, a former SEC chairman who spoke at Tuesday's WSJ CFO Network annual meeting. "The SEC has a great deal of latitude here if it wants to take the initiative," Mr. Pitt told the gathering, as reported by Dave Michaels. Mr. Pitt also said the SEC should not rely on Congress for funding." So says the WSJ.
Are you in favor or think it's a bad idea and why?