The chairman of the Securities and Exchange Commission told Congress Thursday that the agency was weighing changes to reporting requirements for companies but rejected calls to weaken the landmark anti-fraud law, the Sarbanes-Oxley Act. Legions of companies have complained that the rules are too burdensome, are costly and need to be eased. Top securities and accounting regulators said they plan to tweak the rules to lighten the burden on companies, though the SEC chairman said that's "unjustified."
April 22, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The chairman of the Securities and Exchange Commission told Congress Thursday that the agency was weighing changes to reporting requirements for companies but rejected calls to weaken a landmark anti-fraud law.
“We should not minimize the cost to public companies” of new requirements under the 2002 law, William Donaldson said in testimony before the House Financial Services Committee.
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