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Sarbanes-Oxley: is it just about small firms?



Thanks to Ted Frank and Walter Olson for inviting me to do some posting over here on corporate governance matters.
I just caught up with this draft report by the SEC�s Advisory Committee on Smaller Public Companies. It�s got a lot of interesting stuff in it, including a proposal to exempt the smallest firms from mandatory compliance with SOX�s internal controls provision. I'm skeptical whether this goes far enough. SOX is bad for all firms -- it's not just about small firms. Also, there's only so much the SEC can do about SOX -- Congress needs to act. Here's some thoughts and suggestions.

 

 


Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.