UK business leader warns against rushing reform

The British authorities must beware of hurrying through seismic supervisory changes in the wake of the run on Northern Rock, the head of the UK's biggest business lobby has warned.

Richard Lambert, the head of the Confederation of British Industry, has urged the government to avoid making the same mistake as the US did following the bankruptcy of Enron, an energy company, rushing through the Sarbanes-Oxley rules now widely viewed as an overreaction.

"The changes represent a once-in-a-decade

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