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Expert Questions SEC Moves On SOX Enforcement

Law360 (January 17, 2006, 12:00 AM EST) -- As the Securities and Exchange Commission mulls over certain exemptions for smaller companies, at least one expert has voiced doubt over whether the SEC has the authority to relieve companies from the financial obligations mandated by the 2002 Sarbanes-Oxley Act.

William Sjostrom, a professor of law at Northern Kentucky University, rejects the notion that the SEC is charged with exemptive authority, suggesting that only Congress has the power to relax the regulations.

“The [Sarbanes- Oxley] Act passed so quickly because of public furor,” said Sjostrom. “I...
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