'Noisy withdrawal' proposals look dead in the water after Oxley's SEC attack
February 11, 2004 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Congress last week criticised the Securities and Exchange Commission (SEC) for controversial proposals to force lawyers to whistleblow on clients – underlining claims that the US regulator is gearing up to quietly ditch the reforms.
Speaking at a Congressional hearing into the role of attorneys in corporate governance on 4 February, Michael Oxley, the joint-sponsor of the Sarbanes-Oxley Act, strongly rebuked the SEC for the so-called ‘noisy withdrawal’ provisions.
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