Editor’s note: Harvey Pitt recently provided a keynote address at Compliance Week’s annual conference at the Mayflower Hotel in Washington, D.C., June 4-5. Below is an abridged version of the text of the speech.

I was asked to discuss the regulatory pendulums and what its recent trajectory means for public company executives. I must start by noting a small conceptual problem with this topic. Talking about a “trajectory” implies there’s mathematical precision in what’s been roiling our markets for the last year and a half and in what’s likely to transpire from here on out. While life would be easier, albeit ...