House Financial Services Committee Chairman Michael Oxley said Sept. 19 the much-maligned law bearing his name has been “implemented overzealously,” but insisted there should be no legislative rewrite of the legislation he co-authored four years ago in response to crisis of confidence in the public markets.

The Ohio Republican, who is retiring at the end of the year, said at a committee hearing examining the need for revisions that he has received both credit and blame for the Sarbanes-Oxley Act of 2002, but overall he believes the act “has been a success.”

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