The worst result I think we could have would be for investors to lose confidence generally again, as they did after Enron, in the quality and the integrity of financial statements.
Schapiro warns against potential loss of investor confidence due to changes in reporting requirements.
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More from Mary L. Schapiro
I commend Congressman Westmoreland and Ranking Member Frank for bringing forward bipartisan legislation, H.R. 3503, to bring transparency to the PCAOB's disciplinary proceedings.
This time around, I have had more than a few people in my office weeping with fear about what might happen to them because one person or another was looking into their behavior.
These are critically important goals, and I support robust implementation of the Dodd-Frank Act's whistleblower program to support Congressional intent.