The US congressman behind radical post-Enron reforms has renewed criticism of securities lawyers’ “lack of due diligence and independence” in a major review of standards in American boardrooms.
Using a congressional report published to mark the first anniversary of the signing of the controversial Sarbanes-Oxley Act, which introduced a string of reporting requirements for US lawyers, congressman Michael Oxley reaffirmed the need for “the first federal regulation of securities attorneys”.
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