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 exposure draft of its final report, outlining changes to the Sarbanes-Oxley Act for micro-cap and small-cap public companies -- effectively, a proposal to free an estimated 80 percent of public companies, with market values less than $125 million, from at least part of the act's internal controls provisions.
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