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SEC establishes advisory committee to examine impact of Sarbanes-Oxley Act on smaller public companies.(headline)(Securities and Exchange Commission)
Securities and Exchange Commission Chairman William H. Donaldson announced the establishment of an advisory committee to assist the Commission in examining the impact of the Sarbanes-Oxley Act and other aspects of the federal securities laws on smaller public companies.
Appearing at a press conference with the two individuals named as Co-Chairs of the committee, Chairman Donaldson stated, "The Sarbanes-Oxley Act has already been of enormous benefit to America's investors and markets and will spur further improvements. Now the time is ripe to review how the Act, including areas like internal control reporting, and other aspects of the SEC's regulations affect smaller companies."
The Co-Chairs of the new committee are Herbert S. Wander, a Chicago lawyer and partner in the law firm Katten Muchin Zavis Rosenman, and James C. Thyen, President and Chief Executive Officer of Kimball International, Inc., a diversified global manufacturer of furnishings and electronics based in Jasper, Indiana. Chairman Donaldson said he expects between 9 and 19 additional members of the advisory committee to be named, taking into consideration the varied interests to be represented and a fair balance of points of view.
The advisory committee will be known as the Securities and Exchange Commission Advisory Committee on Smaller Public Companies. Its areas of inquiry will be:
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Source: HighBeam Research, SEC establishes advisory committee to examine impact of...