SEC Looking for Ways to Improve Regulatory System for Smaller Companies
The Securities and Exchange Commission’s (SEC) Advisory Committee on Smaller Public Companies on Tuesday, August 2, published a series of questions developed to help solicit input from the public, including investors and companies, on ways to improve the current regulatory system for smaller companies and to examine the impact of the Sarbanes-Oxley Act of 2002.
“The Committee has done an outstanding job identifying vital areas for discussion and potential enhancement of the regulatory framework for smaller public companies,” SEC Acting Chairman Cynthia A. Glassman. “While these are the Committee’s questions to assist their work, the Commission strongly supports the Committee’s efforts.”
The Committee’s questions are posted on the SEC website and published in a release containing the questions. Responses can be submitted online or by mail and are requested before August 31, 2005. The Committee will use information provided by respondents in making their recommendations.
“The Committee is committed to enhancing the regulatory environment for smaller public companies. Seeking public input from all interested participants is an important step in that process,” says Alan L. Beller, Director of the Division of Corporation Finance.
The Advisory Committee on Smaller Public Companies was established by the SEC in December 2004 for the purpose of examining the impact of federal securities laws on smaller public companies in order to assure that the costs and burdens of regulation are commensurate with the benefits to investors and the public. Herbert S. Wander and James C. Thyen are the Co-Chairs of the Committee. The Committee will develop recommendations for the SEC and issue a final report by April 2006.
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