In remarks to reporters after a speech in Washington, Securities and Exchange Commission Chairman Christopher Cox said that small companies aren't likely to receive any exemptions from the Sarbanes-Oxley Act.
In December, the SEC's Advisory Committee on Smaller Public Companies published an
A Bloomberg News article said that after delivering a speech on executive compensation to a Stanford Law School forum on corporate governance, Cox told reporters the SEC's emphasis is on making Section 404 work and implementing it in a cost-effective and investor-protected way, rather than simply waiving it. His comments were the first he has publicly offered on the matter.
In a recent speech, SEC Commissioner Roel Campos also said that he personally doesn't believe small companies should be exempted from SOX.
The advisory committee will present its final recommendations to the SEC by April 23.Sen. Paul Sarbanes, D-Md., also recently spoke out in