E.U. Lauds New SEC Proposals For SOX

Law360, New York (December 15, 2006, 12:00 AM EST) -- European animosity toward the Sarbanes-Oxley Act may finally be waning. European regulators have praised the U.S. Security and Exchange Commission’s recent proposals to modify the controversial regulations.

The SEC recently approved the proposal of several measures that, if passed by the Commission, would roll back SOX for small and foreign companies.

“This is very good news coming out of America,” European Commission spokesman Oliver Drewes said at an E.C. briefing. “We are very positive about the fact that the intense dialogue is working out.”

The E.C....
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