US looks to rebuild Sarbanes-Oxley as business friendly

[Roland99]

http://www.mineweb.net/american_notes/166220.htm

For mining companies at their wits’ end with Sarbanes-Oxley regulations, Tuesday’s announcement that a blue chip committee of businessmen, attorneys and academics has been formed to make recommendations on making the act more business friendly may come as welcome news.

The Committee on Capital Markets Regulation has already won the endorsement of U.S. Secretary of the Treasury Henry Paulson. In a speech to Columbia University on August 1, Paulson hinted that he would support reform that would make the U.S. more internationally competitive.

In a statement issued Tuesday, Paulson said the issue of competitiveness of U.S. public capital markets “is important to the future of the American economy and a priority for me. I look forward to reviewing their findings and ideas.”

Made up of U.S. business, financial, investor and corporate governance, legal accounting and academic leaders, the committee announced Tuesday that it plans to issue a report with recommendations to key policy markets for specific changes in regulation and legislation by the end of November.

Uhhhhh.....

[Trillo]

1. Corporations can marry each other to their BOD's content,

why isn't that enough?

[MadMaddie]

2. I have worked on projects trying to implement Sarbanes Oxley

and it's a bitch.....most of it is common sense but it's overboard in a lot of areas..

[MindPilot]

3. Yeah, common sense, but it's a shame that corporations

needed the government--especially THIS one--to make them do common sense.

In IT, SOX compliance can at times make one look back with fondness at Y2K.

[MadMaddie]

4. So true...