A committee established by the Securities and Exchange Commission to evaluate how the securities regulatory system affects smaller public companies is soliciting public comment on its proposed agenda.

The committee, created last December and officially established in March, is charged with the task of evaluating the current regulatory system for smaller public companies under the securities laws and recommending changes.

The committee will look at the impact of several areas of the Sarbanes-Oxley Act, including frameworks for internal control over financial reporting applicable to smaller public companies; methods for management's assessment of internal control and standards for auditing internal control; corporate disclosure and reporting requirements and federally imposed corporate governance requirements for smaller public companies; accounting standards and financial reporting requirements applicable to smaller public companies; and the process, requirements and exemptions relating to offerings of securities by smaller public companies, particularly public offerings.

The proposed agenda is available on the SEC Web site at www.sec.gov/info/smallbus/acspc/acspc-commagenda.pdf.

Comments are due by May 31 and may be submitted to www.sec.gov/info/smallbus/acspc.shtml, at www.regulations.gov, or by e-mailing rule-comments@sec.gov. Submissions should refer to File Number 265-23. All comments will be posted to the SEC Web site.

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