PointofLaw.com
 Subscribe Subscribe   Find us on Twitter Follow POL on Twitter  
   
 
   

 

 

A SOX amputation won't work



Bob Greifeld, head of Nasdaq and self-styled "consistent supporter of the principles of Sarbanes-Oxley," now sees that something must be done about it. Writing in today's WSJ, he's worried that the burdens imposed by SOX are forcing foreign companies to leave US capital markets. His solution is to support the recommendations of the SEC's Advisory Committee on Smaller Public Companies to exempt small public firms from 404.

As I write here, this attempt at cure by amputation won't work. Congress needs to revisit, and possibly repeal, the Act. Possible spurs to action include the suit over the Constitutionality of the PCAOB and the groundswell to exempt small firms -- which the SEC may not be authorized to do.

More on this Monday at the AEI.

 

 


Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.