â–¶ On Board With Reform: According to study by PR agency Makovsky + Company, Corporate America favors proposed government financial reforms. Only 28% of senior executives from Fortune 1000 companies surveyed believe the proposed legislation will have a negative impact on the U.S. economy. Other findings:
• 72% support regulating credit rating agencies, and 69% agree with proposals to close regulatory loopholes for derivatives and other complex investment packages.
• Large majorities also support the creation of a consumer protection agency (68%), the formation of a new regulatory agency to assess risk at financial institutions (66%) and strengthening bank supervision (66%).
• The reform that registered the greatest opposition (43% opposing) was the right of the government and shareholders to influence senior executive compensation.
• The reform that had the least support (50%) was the Resolution Fund, a government process for shutting down large troubled firms viewed as “too big to fail.”
• While the large majority of executives were aware of most of the reforms, they were least aware of the following: the Volcker Rule (56%), the Resolution Fund (55%) and Systemic Risk Regulation (54%).
Source: Makovsky + Company