Washington (April 9, 2003) - Although many parts of Sarbanes-Oxley have yet to be put into place, and the new accounting oversight board is still without a chairman, Securities and Exchange Commission chairman William Donaldson said the new corporate governance laws are already working.

Donaldson told the Senate Appropriations committee Tuesday that while corporations are nervous about what the new rules prohibit and allow, companies are already taking positive steps to make sure their board of directors are more independent and audit committees are more proactive.

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