High Court Justices Weigh SOX Oversight Board Fight

By Erin Fuchs (December 7, 2009, 7:32 PM EST) -- The U.S. Supreme Court heard arguments Monday in a case challenging the constitutionality of the oversight board created by the Sarbanes-Oxley Act of 2002, probing attorneys about the relationship of the board to the U.S. Securities and Exchange Commission.

According to lawyers on both sides of the issue, the Supreme Court justices focused their questioning largely on the level of control the SEC has over the Public Company Accounting Oversight Board.

"They were very much pushing on trying to understand what really is the nature of the SEC's oversight," said Gillian Metzger, a Columbia University law professor who filed a brief...

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