Exclusive outtakes from industry leaders
The U.S. Food and Drug Administration is looking at ways to improve food labels to help American grocery shoppers make better choices, Commissioner Andrew von Eschenbach tells the Reuters Regulation Summit.
A hot topic on Capitol Hill is a new Democratic bill that would require the federal government to negotiate prices with pharmaceutical makers for the Medicare prescription drug benefit. Leslie Norwalk, acting administrator of the U.S. Centers for Medicare and Medicaid Services, talked about the perils of such negotiations at the Reuters Regulation Summit.
Dr. Andrew von Eschenbach says his top priority as FDA commissioner is to make the agency a bridge, not a barrier, to better health care for Americans. Von Eschenbach was confirmed last month by the U.S. Senate to head the Food and Drug Administration, which oversees regulated products that account for more than 20 percent of consumer spending.
Dr. Andrew von Eschenbach, in his first media interview since winning Senate confirmation, told the Reuters Regulation Summit that the U.S. Food and Drug Administration can improve its processes to assure the safety of medicines without slowing down new product reviews and approval.
The tide of U.S. government regulation of financial markets is receding after the 2001 Enron scandal sparked a four-year crackdown on accounting fraud, biased Wall Street research and other sharp practices that troubled investors worldwide.
Business lobbyists are gaining ground in efforts to roll back 2002′s Sarbanes-Oxley (SOX) law with public attention focused on the Iraq war, immigration and other issues.
The new Democrat-controlled Congress promises greater oversight of regulators, but the push back against post-Enron regulations is well under way. A federal court is even considering a lawsuit that seeks to shut down the Public Company Accounting Oversight Board (PCAOB) — an audit industry watchdog panel set up as the centerpiece of SOX.
Questions about the influence of the new Congress and the future direction of the Securities and Exchange Commission, the PCAOB, bank regulators and other agencies will feature at the Reuters Regulation Summit that begins on Monday in Washington.