RK&O partner Michael D. Mann and former SEC Chairman Arthur Levitt Jr. have published the joint opinion piece "The SEC's China Evasion" in The Wall Street Journal. Their article addresses the SEC's recent "buyer beware" announcement that warned investors that disclosures by SEC-registered companies from emerging markets may be incomplete and misleading, and that the commission’s cross-border regulation, oversight and enforcement—especially for activity from China—cannot be relied upon. Messrs Mann and Levitt outline why they feel this is the wrong approach and how it can serve to diminish U.S. markets.
Mr. Mann was founding director of the SEC's Office of International Affairs from 1989-1996, while Mr. Levitt was SEC Chairman from 1993-2001.
The SEC’s China Evasion - The Wall Street Journal (subscription required)