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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

Katherine Lazarski
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.