The Globe and Mail reports in its Wednesday edition that Wall Street interests pitched ideas on Tuesday about ways to scale back securities regulations that they blamed for stifling the market for initial public offerings. A Reuters dispatch to The Globe says that in a congressional hearing before a House Financial Services Committee subcommittee, officials from the New York Stock Exchange, the U.S. Chamber of Commerce, biotechnology firm aTyr Pharma and a free-market advocacy group urged Congress and the Securities and Exchange Commission to loosen rules on a wide variety of areas, from auditing and shareholder proposals, to proxy advisory firms. For years, corporate interests have called for scaling back a variety of rules for public companies with little success. Now, however, their hopes have been renewed after President Donald Trump nominated Wall Street deal-making lawyer Jay Clayton to lead the SEC. Mr. Clayton has said he plans to look for ways to ease compliance costs and disclosure burdens. In testimony Tuesday, NYSE president Thomas Farley urged policy makers to do away with a rule requiring public company auditors to attest to the effectiveness of internal controls over financial reporting.