Corporate America favors financial reform

Corporate leaders are generally in favor of the financial regulatory reform, according to a survey conducted by Harris Interactive and Makovsky & Company.

Corporate leaders are generally in favor of the financial regulatory reform, according to a survey conducted by Harris Interactive and Makovsky & Company.

Some academics have said the bill is misguided, but the study found 72% of executives support regulating credit-rating agencies, and 69% agree with proposals to eliminate regulatory loopholes for derivatives and other intricate investment packages.

The survey sampled 300 Fortune 1000 executives between April 6 and 16. Regarding the formation of a consumer protection agency, 68% were in favor while 66% back the creation of a regulatory agency to assess risk at financial institutions. Of the 300 executives, 56% support the Volcker Rule, and 66% are for strengthening bank supervision.

However, when polled about the right of the government and shareholders to influence senior executive compensation, 43% were opposed.

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