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...
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