Senator Takes On Critics Over Sarbanes-Oxley Act

Law360, New York (March 24, 2006, 12:00 AM EST) -- A U.S. Senator responsible for crafting a landmark corporate governance law sought to rebuff critics of the legislation for the first time publicly, noting that attempts to undermine it lack legal merit and a factual basis.

“It’s time to remind those who complain that the Congress ‘overreacted’ or ‘overreached’ in passing Sarbanes-Oxley of several crucial points,” said Maryland Sen. Paul Sarbanes, in a speech before the Consumer Federation of America.

Ushered in after high-profile financial meltdowns like Enron and WorldCom, the sweeping corporate governance reforms of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.