Top Democrats Eye PCAOB Ruling's Effect On Agencies

Law360, New York (June 28, 2010, 5:41 PM EDT) -- U.S. House of Representatives and Senate leaders said Monday that they would be studying the Supreme Court's ruling in Free Enterprise Fund v. Public Company Accounting Oversight Board to see whether legislative action was needed to protect the authority of federal anti-fraud agencies.

Senate Judiciary Committee chairman Patrick Leahy, D-Vt., and House Financial Services subcommittee on capital markets, insurance and government-sponsored enterprises chairman Paul Kanjorski, D-Pa., said they were worried about concerns Justice Stephen Breyer raised in his scathing dissent that the narrow 5-4 majority ruling...
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