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SEC Moving To Ease Small-Business SOX Onus

Law360 (January 4, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission's new regulations expanding the number of smaller public businesses exempt from stricter reporting and disclosure requirements moved a step closer to implementation with publication Friday in the Federal Register.

Under the new regulations, which the SEC announced it was adopting on Dec. 19 and which will go into effect on Feb. 4, the less strict requirements in the SEC's scaled system will now apply to all public businesses with lower than $75 million in public float.

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