The limelight will be on corporate scandals in the coming week as a congressional panel opens a hearing on the WorldCom debacle and President George W. Bush makes what is being described as a "major" policy speech.

Monday's hearing on WorldCom's 3.8 billion dollar profit restatement will put the spotlight on current and former executives at the company in a scandal that threatens to eclipse the Enron affair.

The House Financial Services Committee is due to hear testimony from former WorldCom president and chief executive officer Bernard Ebbers, current president and CEO John Sidgmore and former chief financial officer Scott Sullivan.

Bert Roberts, WorldCom's chairman of the board of directors, and the Arthur Andersen LLP partner who was in charge of auditing WorldCom's accounts, Mel Dick, are also scheduled to testify.

Jack Grubman, a well-known telecommunications analyst, who covered WorldCom for Citigroup's Salomon Smith Barney unit has also been subpoenaed to appear before the committee.

Meanwhile Bush is to make a major speech in New York Tuesday where he is expected to call for greater responsibility in the corporate boardroom, including prompt disclosure of company stock sales to protect against insider trading.