In re Exemption from Sarbanes-Oxley Requirements
- Case Date:
- Project Name: Civil Justice Reform
On April 3, 2006, WLF filed comments with the SEC's Advisory Committee on Smaller Public Companies, urging the Committee to adopt proposed regulations that would exempt smaller public companies from some of the more onerous regulatory requirements imposed by the controversial Sarbanes-Oxley (SOX) legislation. WLF argued that the huge compliance costs imposed by SOX are actually hurting investors and are imperiling the viability of many smaller start-up companies. WLF supported proposals to exempt companies with market capitalizations below $787 million from some SOX financial statement disclosure rules. WLF suggested making eligibility for exemption also depend on a company's revenues, pointing out that many start-up companies may have larger market capitalization but little or no revenue.
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4/3/2006: Download the Comments