Business groups that are complaining about an old law that forces them to publish their annual or six-month financial figures in at least one newspaper with a nationwide circulation have every right to be incensed and to protest.
This law is maintaining a practice that made sense in the past but is a complete anachronism today. It is so much easier — not to say a lot cheaper — in this day and age for financial data to simply be posted on the Internet for all to see.
After all, no one can really argue that this forced publication of data has ever helped the public be better informed about the status of a company?s finances.
With times being what they are and many companies struggling for survival in an adverse financial climate, regulations such as this are ludicrous and should be scrapped. All it succeeds in achieving is raising the expenses of companies and suffocating them even more, at a time when the objective is to boost competitiveness and entrepreneurship.