Cox Says No To SOX Exemptions

Law360, New York (April 4, 2006, 12:00 AM EDT) -- Securities and Exchange Commission Chairman Christopher Cox has said he will not exempt small companies from certain provisions of the Sarbanes-Oxley Act, speaking on the contentious issue for the first time.

Cox said that the SEC will not offer small companies a full exemption from the internal audit rules set forth by the Act, which mandates that an independent auditor review and issue a report on a company’s books.

“Our emphasis is on making 404 work and implementing it in a cost-effective and investor-protected way, rather...
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