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Regulation - SEC considering Sarbanes-Oxley changes.

Europe Intelligence Wire

| September 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Reinsurance)

The Securities and Exchange Commission (SEC) is considering additional relief for small companies in complying with the Sarbanes-Oxley Act.

At the start of August, the SEC's Advisory Committee on Smaller Public Companies recommended that small companies be given an additional year to meet the requirements of Sarbanes-Oxley Section 404, which requires companies to document their internal controls.

The committee also reportedly suggested that the definition of 'small company' be widened to benefit a larger number of businesses. Last year, the commission gave a break to 'non-accelerated filers' - defined by the SEC as companies with a market capitalisation under $75m - by extended for one year ...

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