Washington – Business Roundtable today praised the inclusion of important corporate governance provisions in the Financial CHOICE Act, citing the legislation’s House passage as an example of regulatory reform designed to make the U.S. business climate more competitive.
John Hayes, Chairman, President and Chief Executive Officer of Ball Corporation and Chair of the Business Roundtable Corporate Governance Committee, issued the following statement following the House vote:
“Business Roundtable welcomes House passage of the Financial CHOICE Act and its focus on important corporate governance issues, including a review and modernization of the shareholder proposal process. This will help companies concentrate more effectively on investment, innovation and economic growth.
“We appreciate Chairman Jeb Hensarling’s leadership on the CHOICE Act. Business Roundtable looks forward to continuing to work with Congress to foster corporate governance and financial services regulations that make America’s business environment more competitive and promote long-term capital formation and value creation.”
In May, Business Roundtable submitted a statement to the House Committee on Financial Services outlining the key corporate governance provisions.
Mark J. Costa, Chairman and Chief Executive Officer of Eastman Chemical Company and Chair of the Business Roundtable Smart Regulation Committee, added:
America’s business leaders believe modernizing the U.S. regulatory system is essential to produce stronger economic growth, accelerated job creation and higher wages.
“The Act also recognizes that major financial institutions play an indispensable role, providing services that allow U.S. businesses to compete in the global economy.”