April 20, 2006
Final SEC Advisory Committee on Smaller Public Companies Public Meeting/Swan Song
I would like to congratulate all of the ACSPC committee members on their work for this committee. Sarbanes-Oxley has certainly commanded alot of media time and intense debate over the last almost four years. For this committee, it has certainly been an interesting ride these last 13 months.
It has been refreshing to hear so much debate which has been open and free.
Having personally listened to or attended every one of these public meetings, there certainly have been some interesting technical gaffes on technology on such things as conference calls etc.
BUT, for those who have been quick to criticize these minor problems (as some bloggers have), let's not forget that the SEC does not have to hold these meetings in public. They have chosen to elevate this debate to a high level AND out in front of everyone. Nothing is hidden. Good for the SEC!
So before we are quick to snipe about a lack of perfection in the proceedings, let us not forget that there is not another country in the world that allows such a large amount of public input and has such transparency in its discussion and decision making processes. Everyone can be heard if they want to take the time to provide their input. Everyone is equal in this process.
Other countries who are very well regarded democracies choose to make all these types of decisions behind closed doors and without much real public input. They not only do not announce their decision making process, but put notices up before holidays so that they do not have to answer questions any sooner than possible.
Yes, the United States is imperfect, but I say, once again, "God Bless America" with all her faults. At least we can have open debate without fear of retribution and if we choose to do so, we can speak out with freedom and be heard.
That is something to value and NOT to take for granted.
It has been refreshing to hear so much debate which has been open and free.
Having personally listened to or attended every one of these public meetings, there certainly have been some interesting technical gaffes on technology on such things as conference calls etc.
BUT, for those who have been quick to criticize these minor problems (as some bloggers have), let's not forget that the SEC does not have to hold these meetings in public. They have chosen to elevate this debate to a high level AND out in front of everyone. Nothing is hidden. Good for the SEC!
So before we are quick to snipe about a lack of perfection in the proceedings, let us not forget that there is not another country in the world that allows such a large amount of public input and has such transparency in its discussion and decision making processes. Everyone can be heard if they want to take the time to provide their input. Everyone is equal in this process.
Other countries who are very well regarded democracies choose to make all these types of decisions behind closed doors and without much real public input. They not only do not announce their decision making process, but put notices up before holidays so that they do not have to answer questions any sooner than possible.
Yes, the United States is imperfect, but I say, once again, "God Bless America" with all her faults. At least we can have open debate without fear of retribution and if we choose to do so, we can speak out with freedom and be heard.
That is something to value and NOT to take for granted.
