April 12, 2005
SEC Roundtable April 12th on Small Company Impact from Sarbanes-Oxley
My business partner and I attended the first public meeting for the SEC's round table for the Advisory Committee on Smaller Public Companies.
The first thing they have to do is to agree on the definition of a small company. This is not as easy as it sounds. Market capitalization alone is not enough. Other measures under consideration are: equity or debt raised, employees, revenue etc.
The SEC has a concern that Section 404 might stifle competition and innovation. This advisory committee is an effort to assure this does not happen. The group is made up of regulators, business people from all sectors. It is a pretty impressive group. They seem like they are in touch with the issues and want to solve them.
Main message so far is this: expect some rule changes from the SEC, if anything is adopted. But do not expect legislation changes that have to go through congress. Stay tuned for more.
For the announcement on this roundtable, click here.
To learn more about how your company can simply your Sarbanes-Oxley Compliance effort, see www.issuescentral.com to learn more about Sarbanes-Oxley Compliance Playbook(tm).
The first thing they have to do is to agree on the definition of a small company. This is not as easy as it sounds. Market capitalization alone is not enough. Other measures under consideration are: equity or debt raised, employees, revenue etc.
The SEC has a concern that Section 404 might stifle competition and innovation. This advisory committee is an effort to assure this does not happen. The group is made up of regulators, business people from all sectors. It is a pretty impressive group. They seem like they are in touch with the issues and want to solve them.
Main message so far is this: expect some rule changes from the SEC, if anything is adopted. But do not expect legislation changes that have to go through congress. Stay tuned for more.
For the announcement on this roundtable, click here.
To learn more about how your company can simply your Sarbanes-Oxley Compliance effort, see www.issuescentral.com to learn more about Sarbanes-Oxley Compliance Playbook(tm).
