SOX Relief

A draft of the report of the SEC advisory committee on regulatory relief for smaller companies from Sarbanes-Oxley is now available. (HT: Ribstein) The committee offers 32 discrete recommendations, but the gist would be substantial relief for smaller firms from the more costly SOX requirements. (In a footnote, the Committee addresses the contentious issue of whether the SEC even has authority to provide such relief without further Congressional action; the Committee thinks the SEC does).